LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$2,105
Monthly Cash Flow
-$2,642
Principal + Equity
$6,819
Annual Total Gain
$50,135
Cash on Cash
-13.98%
Net ROI %
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
A
Overall
Top-level market grade
Best Suburbs to Live in Tennessee
#4out of 101 markets
Best Suburbs for Young Professionals in Tennessee
#2out of 101 markets
Suburbs with the Best Public Schools in Tennessee
#4out of 101 markets
A
Public School
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Franklin, TN.
In Franklin, TN, Short Term Rentals (STRs) are regulated by the city government. Investors should be aware of the following regulations before purchasing a property for STR purposes:
1. Permit Requirement: All STRs in Franklin are required to obtain a permit from the city government. The permit application process includes submitting an application, paying a fee, and meeting certain criteria set by the city.
2. Zoning Restrictions: Franklin has specific zoning regulations that dictate where STRs are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits short term rentals.
3. Occupancy Limits: Franklin has occupancy limits for STRs, which vary depending on the size of the property. Investors should be aware of these limits and ensure that they comply with them.
4. Noise and Nuisance Regulations: Franklin has noise and nuisance regulations in place to ensure that STRs do not disrupt the peace and quiet of residential neighborhoods. Investors should familiarize themselves with these regulations and ensure that their property complies with them.
5. Taxation: STRs in Franklin are subject to lodging taxes, which must be collected and remitted to the city. Investors should be aware of their tax obligations and ensure that they are in compliance with the city's tax regulations.
6. Code Compliance: Investors should ensure that their property meets all building and safety codes required for STRs in Franklin. This may include having proper fire safety measures in place, ensuring that the property is up to code, and obtaining any necessary permits for renovations or improvements.
By being aware of and complying with these regulations, investors can ensure that their investment in a Short Term Rental property in Franklin, TN is successful and profitable.
Market Trends Over Time
Explore 25 years of market data for Franklin, TN, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Franklin, TN.
The LTR Genie Score of Franklin, TN is 76 and STR Genie Score is 71, indicating a high level of rentability for both long-term and short-term rental properties in the area. The LTR Rent Growth Rate of 0.0428% and the 1-Year Price Appreciation Forecast of 2.5% suggest steady growth potential for long-term rental investments. On the other hand, the STR Net ROI of 27.91% and high STR Occupancy rate of 63.33% make short-term rental properties a lucrative option as well.
Comparing the LTR and STR Genie Scores, it is evident that both long-term and short-term rental investments are attractive in Franklin, TN. However, the higher Net ROI and occupancy rate for short-term rentals may make them a more appealing option for investors looking for higher returns in the short term.
Overall, Franklin, TN appears to be a promising market for both long-term and short-term rental investments. With a strong rentability score, positive rent growth rate, and forecasted price appreciation, investors may find success in either rental strategy in this market. It is recommended for real estate investors to conduct further research and analysis to determine which investment strategy aligns best with their financial goals and risk tolerance.
