Real Estate Investing in Franklin, Massachusetts (02038)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02038 (Franklin, MA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Franklin, MA (02038)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02038 Franklin
On balance, ZIP 02038 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $715K median. It rewards specialists, not generalists.
Put differently, the numbers look inviting — $715K purchase price, 0.0% nominal cap — the work to hit that pro forma in 02038 is substantial and deserves full respect.
Nearby ZIPs in Franklin have seen price recovery that 02038 has not matched. Norfolk County data supports the view that the spread is structural rather than temporary.
The demographic picture in 02038 includes headwinds that any investor should price in. Income distribution skews lower than Franklin averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 02038 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Franklin:
Property Strategy for 02038
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $244,588 | $2,160 | 6.4% | +7.5% | $244,588 |
| 2BR | $489,912 | $2,560 | 3.8% | +7.4% | $244,956 |
| 3BR | $636,983 | $3,080 | 3.5% | +7.0% | $212,328 |
| 4BR | $878,796 | $3,390 | 2.8% | +7.6% | $219,699 |
| 5BR | $912,417 | — | — | +7.6% | $182,483 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02038 Compare?
| Metric | 02038 | Franklin | Massachusetts |
|---|---|---|---|
| Home Value | $714,527 | $714,527 | $645,115 |
| 5-Year CAGR | 5.2% | 5.2% | 7.0% |
| Avg Rent | $2,747 | $2,747 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02038 (Franklin, MA). Anonymous, moderated, never written by AI.
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Property managers serving Norfolk County
Manage rentals here? List your business →Old Colony Property Services is a condominium and HOA property management company serving the Old Colony area of Southeastern Massachusetts, including Canton, Easton, Brockton, and Bridgewater. summary from their website
Bellevue Property Management is a home rental and property management company servicing Boston Metrowest, including Newton, Needham, Wellesley, Weston, Wayland, Natick, and Holliston. summary from their website
The Triad Group is a real estate and development company specializing in taking development projects from vision to reality across the United States and globally. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $714,527 |
| Monthly Rent | $2,747 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | +9.0% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 02038
Population: 33,067
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 02038
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the rental occupancy rate in Franklin, MA?
Vacancy risk in Franklin, MA is elevated. That supports steady cash flow for typical rental holds.
Is it easy to find good tenants in Franklin, MA?
Franklin, MA draws a steady base of working renters. Demand at the $2,747/mo rent level is reasonable for standard single-family and small multi rentals.
What strategy should investors use in Franklin, MA?
For Franklin, MA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is rental property easy to operate in Franklin, MA?
Franklin, MA falls under MA landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
What do landlords charge for rent in Franklin, MA?
Rental rates in Franklin, MA average $2,747/mo. Tenant demand and $715K home values make the yield look reasonable by investor standards.
You know 02038 now. You don’t know where it ranks.
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How 02038 ranks in Boston-Cambridge-Newton, MA-NH
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