Franklin, Tennessee
Franklin is the seat of Williamson County. Its homes range from older houses inside the historic district to planned communities finished in the last few years. Below: the housing numbers, seven neighborhoods and what each means for financing, and the loans that fit buying, renovating or building here.
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Booked calls are with a member of the Iron Hill team. Home loans are handled by a licensed loan officer.
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Franklin has newer homes, higher values and a larger share of homes in apartment and condo buildings than Tennessee as a whole.
| Measure | Franklin | Tennessee |
|---|---|---|
| Population, July 2025 | About 90,200 | Not compared |
| Change since 2020 | Up about 8 percent | Not compared |
| Homes built 2010 or later | About 32 percent | 15 percent |
| Median year built | 2002 | 1987 |
| Single-family detached homes | 58 percent | 68 percent |
| Homes in buildings with five or more units | About 29 percent | 14 percent |
| Owner-occupied homes | About 64 percent | About 67 percent |
| Median home value (owner estimate) | About $705,000 | About $287,000 |
Sources: U.S. Census Bureau, American Community Survey 2020-2024 five-year estimates (opens in a new tab) (housing figures; estimates with margins of error) and Vintage 2025 population estimates (opens in a new tab) (July 1, 2025, compared with the April 2020 base). Accessed Oct. 20, 2026.
What it means for your loan: with values well above the state median, higher-priced Franklin purchases often fit a jumbo loan, for amounts above the conforming limit FHFA sets each year. Nearly three in ten homes sit in larger buildings, which gives condo and townhome buyers more choices and makes 5+ unit property a real segment for investors.
The City's 2025 Development Report (opens in a new tab) counts an existing stock of 39,959 housing units. During 2025 the City approved 3,225 more units, and 3,130 of them were multifamily. Another 13,203 units have approval but aren't built yet.
Countywide, Census building permit data (opens in a new tab) shows new housing units permitted in Williamson County falling from 2,980 in 2021 to 1,621 in 2025.
For buyers, that means a real choice between a newer home in a planned community and an established home on a mature street. For builders and investors, it means a city that's still adding homes, with room for infill lots, small multifamily and renovations of older in-town houses alongside the large projects.
These are notes, not separate guides. Two of them, Leipers Fork and Grassland, sit outside Franklin city limits.
Historic Downtown Franklin centers on the Main Street district, which the Downtown Franklin Association (opens in a new tab) promotes. Its older in-town homes suit owner buyers and renovation projects alike.
Loan notes
Owner buyers often use conventional or jumbo loans for older in-town homes. Investors renovating an older in-town home can use a fix and flip or construction loan, with draws tied to completed work.
A master-planned neighborhood built by Southern Land Company, and one of the active residential developments named in the City's 2025 Development Report.
Loan notes
Single-family homes and townhomes with an HOA. Conventional and jumbo loans fit most homes. For FHA or VA on an attached home, the project may need agency approval, so we check that first.
With 2,137 homes, it's described as Franklin's largest neighborhood. Most homes here are established resales rather than new builds.
Loan notes
A common fit for move-up purchases, and for long-time owners weighing a refinance or cash-out refinance.
A mixed-use town-center development in south Franklin. The 2025 Development Report records revised plans for the Berry Farms Town Center and the nearby Reams-Flemming tract.
Loan notes
Newer homes and townhomes: conventional, FHA and VA, with project approval for attached homes. Builders and investors can look at construction and bridge loans, and mixed-use property is financed for business purposes on select programs.
An unincorporated village near Franklin, outside city limits. Williamson County treats it as one of its designated Villages, with its own Special Area Plan (opens in a new tab).
Loan notes
Acreage and estate properties are common, so jumbo and conventional loans lead. Tell us about the land and any well or septic system up front, and we'll factor them into the loan.
The community counts over 1,300 homes, including single-family homes, townhomes and condos, in one community.
Loan notes
A range of price points in one place: conventional across the board, FHA and VA for condos in approved projects, and jumbo at the top end.
An unincorporated Williamson County village north of Franklin with its own village plan (opens in a new tab).
Loan notes
Larger lots and higher prices. Jumbo and conventional loans fit most purchases.
Business-purpose loans for investment property only. Not for personal, family or household use. Subject to approval. Equal Housing Opportunity.
More than a third of Franklin households rent. Hold a rental on the strength of its lease rather than your paycheck.
Learn moreFor older in-town homes near downtown, with the rehab paid out in draws as work is completed.
Learn moreBuy the next investment property before you sell or refinance the last one.
Learn moreInfill lots inside the city and small projects on the edges, with draws tied to completed work.
Learn moreSmall apartment buildings and town-center property like Berry Farms, business-purpose only, on select programs.
Learn moreCheck a Franklin rental's coverage with your own numbers before you talk to us.
Learn moreHome loans are offered only in states where Iron Hill Mortgage is licensed. Check our licensing page or NMLS Consumer Access for where we're licensed. Iron Hill Mortgage is a private company. We are not a government agency, and we are not endorsed by HUD, the FHA or the U.S. Department of Veterans Affairs.
For loan amounts above the yearly conforming limit, which happens at the upper end of Franklin prices.
Learn moreThe everyday choice for single-family homes, townhomes and many condos across Franklin.
Learn moreInsured by the FHA. Worth comparing for a townhome or condo, once we confirm the project's approval.
Learn moreGuaranteed in part by VA. For eligible veterans and service members, in any neighborhood where the property and project qualify.
Learn moreFor self-employed borrowers whose write-offs lower the income on their tax returns.
Learn moreFor owners of established Franklin homes who want to take cash out with a new first mortgage.
Learn moreFranklin is the seat of Williamson County and has an existing stock of 39,959 housing units, per the City's 2025 Development Report (opens in a new tab). The City approved 3,225 more units during 2025, 3,130 of them multifamily, and 13,203 approved units are not yet built. More than a third of households rent, about 8 percent of homes are townhomes, and planned communities such as Westhaven add newer homes alongside the older in-town streets.
For investors, that means rentals to hold, older in-town homes to renovate and, for business purposes only, small apartment and mixed-use buildings.
No. Both are unincorporated villages in Williamson County with their own county plans, and both are known for acreage and larger lots. Your loan works the same way: the appraisal, title work and insurance follow the property's actual location.
When the loan amount is above the conforming loan limit FHFA sets each year (opens in a new tab) for Williamson County. That's more likely at the upper end of Franklin's price range, such as larger homes and acreage near Leipers Fork or Grassland. We'll check the current limit against your plans.
Often. A townhome on its own lot is usually treated like a house. A condo-style townhome or flat may need the whole project approved by FHA or VA. In places like McKay's Mill or Westhaven, we confirm how the home is legally set up before you write an offer.
A DSCR loan is a business-purpose loan for non-owner-occupied rentals, sized mainly on the property's rent compared with its costs, so the rental's numbers carry the loan rather than your paycheck. In a planned community, we review the HOA documents with you as part of the loan. Credit, reserves and the property still matter, and it isn't for a home you'll live in.
Yes, as business-purpose loans on select programs. With thousands of multifamily units in the city's approved pipeline, Franklin is still adding apartments, and we'll look at the building's rents, occupancy and your plan for it.
Franklin's commercial hub: condos, new builds and build-to-rent.
Learn more: Cool Springs, FranklinLarge lots, high-value homes and jumbo loans, just north of Franklin.
Learn more: BrentwoodLocal pages with housing data and the loans that fit each market.
Book a call or text us. We'll talk through the property and the loan that fits it.
Call or text (615) 949-4780 · Answered 24/7 for booking
Booked calls are with a member of the Iron Hill team. Home loans are handled by a licensed loan officer.
