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Market MapWashingtonFranklin

Franklin County

WashingtonPopulation: 96,692
47
/100
Hold
#611 of 1,000 counties
#18 in Washington (39 counties)
Analysis by RentalCalcs Research·Independent data + algorithm-driven scoring
Updated June 1, 2026Sources: Zillow ZHVI, Zillow ZORI, US Census ACS, Tax Foundation

Market Snapshot

$420,649
Median Home Price
80% above national median
$1,804/mo
Median Rent
19% above national median
5.15%
Rent-to-Price Ratio
Top 69% nationally
-$1,032
Est. Monthly Cash Flow
With 20% down at 6.9% rate

Scenario comparison

Same $1,804/mo rent assumption, 20% down, 6.85% rate. What changes is the acquisition price.
ScenarioPurchase priceMonthly cash flowCap rateCash-on-cash
75% of median
value-add or distressed
$315,487-$481/mo4.5%-8.0%
Median
typical MLS deal
$420,649-$1,032/mo3.4%-12.8%
125% of median
newer / premium
$525,812-$1,584/mo2.7%-15.7%

Price History

Historical data from Zillow ZHVI/ZORI

Quick Investment Calculator

20%
5%50%100%

Purchase

Purchase Price$420,649
Down Payment (20%)$84,130
Loan Amount$336,519
Interest Rate6.85%

Monthly Cash Flow

Gross Rent+$1,804
Monthly P&I-$2,205
Est. Expenses (35%)-$631
Net Cash Flow-$1,032/mo
3.4%
Cap Rate (all cash)
-12.8%
Cash-on-Cash Return
5.15%
Rent-to-Price Ratio
Negative leverage: At 6.85% rates, borrowing costs exceed the 3.4% cap rate. All-cash buyers may see better returns.

* Based on county median values. 35% expenses include taxes, insurance, maintenance, vacancy, and property management. Actual results vary by property.

Run Full AnalysisTry House Hack Strategy

Score Breakdown

Overall Investment Score
47/100
47
Cash Flow(30%)
47/100

Based on 5.15% rent-to-price ratio. Higher ratios indicate stronger cash flow potential.

Appreciation(25%)
49/100

Based on -0.3% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)
50/100

Population data not available.

Affordability(20%)
40/100

Based on price relative to estimated local incomes.

Scores are calculated using real Zillow home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. Markets with missing rent data use estimated values based on regional averages.

Investment Outlook

Strengths

  • +Complete rent data available

Challenges

  • -Below-average rent-to-price ratio (5.15%)
  • -Declining home values (-0.3% YoY)
  • -Negative cash flow at typical financing (-$1,032/mo)
  • -Negative leverage (cap rate 3.4% < mortgage rate 6.9%)

Economic Indicators

Population
96,692
Median Income
—
Data pending
Unemployment Rate
—
Data pending
Price-to-Income
—
Data pending

Who this market fits

Best for
  • +All-cash buyers: removing debt service flips the cap rate to actual yield
Skip if
  • −You need positive cash flow on day one at typical leverage
  • −You can't tolerate negative leverage (cap rate below mortgage rate today)
  • −You expect appreciation to carry the deal, but prices have declined year over year

Compare to Nearby Counties

CountyVerdict
Grays HarborWA
48$315,708$1,4685.58%HoldView
BentonWA
48$441,035$1,7454.75%HoldView
CurrentFranklinWA
47$420,649$1,8045.15%Hold
ThurstonWA
47$518,972$2,0544.75%HoldView
KitsapWA
47$565,298$2,0354.32%HoldView
JeffersonWA
46$594,864$2,5565.16%HoldView

The Bottom Line

HoldFranklin is a neutral market. Consider house hacking or targeting below-market deals.

Franklin County in Washington scores 47/100, ranking #611 of 1,000 US counties (top 81%). At 20% down and current rates, a median-priced rental loses about $1032/month; the 5.15% gross rent-to-price ratio doesn't survive debt service. The thesis here is appreciation, value-add, house hacking, or all-cash.

Monthly Cash Flow
$-1,032/mo
Cap Rate
3.4%
Cash-on-Cash
-12.8%

Related markets

Markets like Franklin with stronger cash flow

  • Grays Harbor County for cash-flow rentals
  • Jefferson County for cash-flow rentals
  • Thurston County for cash-flow rentals

Cheaper alternatives to Franklin

  • Grays Harbor County, lower entry price

Head-to-head comparisons

  • Franklin vs Thurston for rentals
  • Franklin vs Kitsap for rentals
  • Franklin vs Grays Harbor for rentals
All counties in Washington →

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