City in Milwaukee County, Wisconsin. Data-backed housing guide by Kinan Sawar, MD — REALTOR® at Shorewest, REALTORS®. Figures as of 2026-07-03.
| Typical home value | $444,932 |
|---|---|
| 1-year change | +3.8% |
| 5-year change | +29.3% |
| Typical rent | $1,905 per month |
| Gross rent yield | +5.1% |
The typical home in Franklin, Wisconsin is worth about $444,932 as of 2026-07-03, up 3.8% over the past year and up 29.3% over five years. Source: Zillow Home Value Index, compiled by Sawar Homes.
Franklin commands one of the larger premiums over its own county in Southeast Wisconsin. Its $444,932 typical home value runs $50,674 — about 12.9% — above the Milwaukee County median of $394,258, ranking 6 of 19 municipalities in the county as of April 30, 2026.
Rents are correspondingly high: $1,905 a month typical, which pencils to a 5.14% gross yield — annual rent equal to just over 5% of the typical home's value, before expenses.
Appreciation has been steady rather than explosive: 3.8% over the past year and 29.3% over five.
Sixth of 19 in Milwaukee County puts Franklin above every municipality in its immediate comparison set: Wauwatosa ($429,884), Oak Creek ($418,052), Hales Corners ($413,244), and Greendale, which sits exactly at the county median of $394,258. The spread from Greendale to Franklin is about $50,700.
ZIP 53132 tracks the city closely: $443,039 typical value and $1,826 typical rent, versus $444,932 and $1,905 citywide. At $1,905 a month, gross annual rent is $22,860 — the source of the 5.14% yield figure — before taxes, insurance, and upkeep.
Against the broader region, Franklin lands about $10,900 under the seven-county median of $455,834. Above its county, just below its region: that is Franklin's position in one sentence.
| ZIP code | Typical home value | 1-year change | Typical rent |
|---|---|---|---|
| 53132 | $443,039 | +3.8% | $1,826/mo |
| Homes sold (arms-length, single-family) | 565 |
|---|---|
| Median sale price | $420,000 |
| Middle 50% of sales | $283,000 to $568,000 |
| Government-backed financing (FHA/VA/USDA) | 1.2% |
| Seller-financed | 0.5% |
Over the 12 months ending June 2026, 565 single-family homes sold in Franklin, Wisconsin in arms-length transactions, at a median price of $420,000. Half of those sales fell between $283,000 and $568,000. Source: Wisconsin Department of Revenue real estate transfer returns, compiled by Sawar Homes — every recorded sale, including for-sale-by-owner and builder-direct transactions that never appear in the MLS.
Zillow’s typical-home-value estimate for Franklin is $444,932, while homes that actually changed hands had a median price of $420,000 — a difference of -5.6%. These measure different things, and neither is wrong: the index estimates the value of every home whether or not it sold, while the sale figure reflects only the homes that changed hands, which usually skew toward the more affordable end of the market.
Buyers should budget for the premium: Franklin costs roughly $50,700 more than the typical Milwaukee County home. Nearby alternatives run cheaper — Oak Creek by about $26,900 and Hales Corners by about $31,700 — so the choice is between paying Franklin's price level or trading down the county's price ladder. The 3.8% one-year pace suggests values were rising but not sprinting as of the April 2026 data.
Sellers in Franklin are pricing into a market that has gained 29.3% in five years and holds a double-digit percentage premium over its county median. The right anchors are recent Franklin and ZIP 53132 sales, not county-wide figures that run $50,000 lower. Owners considering renting instead of selling have a concrete benchmark in the $1,905 typical rent, though gross rent is not net profit and no figure here guarantees an individual result.
Franklin blends newer subdivisions with preserved green space — the Root River corridor, Whitnall Park's edges, and Franklin Woods — plus The Rock Sports Complex and Milwaukee Milkmen ballpark for summer nights.
Dates and details change year to year — check each event’s organizers for current schedules.
Citywide, the typical home value is $444,932 as of April 30, 2026. ZIP 53132 specifically shows $443,039.
By typical value it ranks 6 of 19 municipalities in the county, about $50,700 above the $394,258 county median.
Typical rent is $1,905 a month citywide; ZIP 53132 shows $1,826.
Gross yield is 5.14% — $22,860 in annual rent against a $444,932 typical value. That is before taxes, insurance, and maintenance; gross yield is not net return.
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Kinan Sawar, MD — REALTOR® at Shorewest, REALTORS®, serving Milwaukee and Southeast Wisconsin (Milwaukee, Waukesha, Ozaukee, Washington, Racine, Kenosha, and Walworth counties). Email: [email protected] · Phone: (618) 713-2964.
How to choose a real estate agent in Franklin and Milwaukee — a five-question checklist
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Home values and rents are Zillow ZHVI/ZORI estimates for the named area, as of 2026-07-03; incomes and population are U.S. Census (SAIPE, Population Estimates); migration is IRS Statistics of Income. Area-level statistical estimates for information only — not an appraisal, and not financial, legal, or tax advice.