RentData

Average Rent in Franklin County, NY↑ Rents rising 8.6% YoY

HUD FY2025 · Official government data · Updated annually · Metro pop. 47,066

Data review: HUD FY2025Sources: HUD, Zillow, Census, BLSMethodologyEditorial standardsReport a correction

Market Overview

Franklin County, NY has rental prices ranging from $674/month to $1,430/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $824/month — 41% below the national average of $1,400/month. With a median household income of $63,747/year, spending $824/month on a 1-bedroom represents 16% of gross income — within the recommended 30% threshold.

How Franklin County Compares

With an average 2-bedroom rent of $983/month, Franklin County ranks #34 most expensive of the 41 cities tracked in New York — pricier than 62% of all US cities in our data.

The Franklin County Rental Market

The Franklin County, NY area has a population of about 47,066 and 29% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Franklin County, NY have risen by $78/month (8.6%) over the past year, from $905 to $983. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Franklin County, NY without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $32,960. The local median household income of $63,747 exceeds that threshold by $30,787, making Franklin County relatively accessible compared to local wages.

Economy & Jobs

Franklin County, NY has an unemployment rate of 4.2%, 0.3 percentage points above the national average of 3.9%. A higher unemployment rate can moderate rental demand over time, which may help keep rent growth in check compared to tighter job markets.

Fair Market Rents

HUD FY2025
Studio
$674
Affordable
1 Bedroom
$824
Affordable
2 Bedrooms
$983
↑8.6% YoY
Affordable
3 Bedrooms
$1,239
Affordable
4 Bedrooms
$1,430
Affordable
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Is Franklin County, NY Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Affordability Index(30% income rule)

To rent a 2BR
$39,320/year
Local median income: $63,747
To buy a median home
—/year
US national median: $75,000
💡 Based on a 2BR rent of $983/month and 20% down on a — home at 7% rate.

Nearby Cities in NYlargest metros in the state

CityStudio1BR2BR3BRHome Value
Poughkeepsie$1,088$1,160$1,467$1,868—
Nassau$1,848$2,241$2,586$3,352—
New York$2,406$2,511$2,780$3,465—
Buffalo$968$1,001$1,176$1,438—
Rochester$1,022$1,149$1,427$1,720—
Albany$1,074$1,230$1,487$1,792—

Rent or Buy in Franklin County?

Break-even analysis and mortgage estimates based on local market data.

Should I Rent or Buy?

Break-even analysis using real Franklin County data

$
Home Value
$350,000
2BR Rent
$983/mo
Mortgage Rate
7%
Monthly P&I
$1,863/mo
🏠 Buy

Buying breaks even after 5 years — worth it if you stay 5+ years.

Total monthly buy cost: $2,577/movs rent: $983/mo
Estimates only. Excludes HOA, PMI (if <20% down), closing costs, and tax benefits. Assumes 5% return on invested down payment.

Living in Franklin County

Cost of living, job market, crime rates, and moving cost estimates.

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Frequently Asked Questions

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🏘️Neighborhoods in Franklin County

Compare rent & home prices by neighborhood

💵Rent Affordability in Franklin County

Salary needed to afford rent here

🗺️All Cities in NY

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⚖️Compare Franklin County

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📋NY Tenant Rights

Deposit limits, eviction laws & renters protections