Real Estate Investing in Franklin, Kentucky (42134)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 42134 (Franklin, KY)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.5% vacancy may signal weakening demand.
What’s happening in Franklin, KY (42134)?
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Market Analysis: 42134 Franklin
The 42134 ZIP covers a section of Franklin that demands careful diligence. Prices near $252K look accessible, but the work to make a deal cash flow is real.
Turning to rents, the numbers look inviting — $252K purchase price, 0.0% nominal cap — the work to hit that pro forma in 42134 is substantial and deserves full respect.
The gap between 42134 and stronger Franklin ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
From a cash-flow lens, 19,117 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Franklin:
Property Strategy for 42134
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $158,027 | $1,050 | 4.8% | +12.4% | $79,013 |
| 3BR | $242,156 | $1,400 | 4.2% | +9.7% | $80,719 |
| 4BR | $314,089 | $1,480 | 3.4% | +7.9% | $78,522 |
| 5BR | $404,899 | — | — | +7.3% | $80,980 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 42134 Compare?
| Metric | 42134 | Franklin | Kentucky |
|---|---|---|---|
| Home Value | $251,616 | $251,616 | $225,788 |
| 5-Year CAGR | 6.8% | 6.8% | 6.9% |
| Avg Rent | $1,538 | $1,538 | - |
| Cap Rate | 4.8% | 4.8% | - |
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 42134 (Franklin, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $251,616 |
| Monthly Rent | $1,538 |
| Price-to-Rent | 13.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.3% |
| Cap Rate | 4.8% |
| 5-Year IRR | 11.6% |
📈 Home Appreciation
| 1-Year | +1.5% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.8%). 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 42134
Population: 19,117
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 42134
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.
Frequently Asked Questions
What real estate strategy is ideal for Franklin, KY?
Franklin, KY investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($252K prices, $1,538/mo rents) make it a reasonable choice.
How strong are rents in Franklin, KY?
Investors in Franklin, KY typically see rents near $1,538/mo per month against $252K home values - a solid setup for rental cash flow.
Is Franklin, KY landlord-friendly?
KY law landlord-friendly for landlords, and Franklin inherits those rules. Investors should still review local ordinances for rental licensing.
What is the rental occupancy rate in Franklin, KY?
Occupancy in Franklin, KY runs consistent with elevated vacancy. Well-priced units at $1,538/mo lease on reasonable timelines.
Is Franklin, KY suited for a house hack?
For house hackers, Franklin, KY is a challenging. The $1,538/mo rent on a unit helps defray the mortgage on a $252K property.
You know 42134 now. You don’t know where it ranks.
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