42134, Franklin, KY

Franklin, Kentucky is located in the heart of Appalachia and has a population of just over 16,000. The 42134 zip code has a median home value of $129,900 and a median household income of $41,500. The average commute to work is just under 25 minutes.

The Franklin area has seen strong growth in recent years due to its proximity to Louisville and Lexington. Home values have increased significantly since the recession, reaching their current levels in 2012. Despite this growth, Franklin still has a relatively low rate of home ownership compared to other areas in Kentucky. In fact, only 54% of homes are owned by residents within the zip code. This high rate of rental activity may be due to the low cost of living and strong job market in Franklin.

Despite the high rates of home ownership and rental activity, there is evidence that Franklin residents are increasingly interested in buying their own homes. Between 2010 and 2016, the number of homeowners within the zip code increased by 24%. This increase may be partially attributed to incentives offered by local governments such as tax breaks or reduced fees for permitting construction projects.

Despite these positive trends, there are still some challenges facing homeownership in Franklin. One issue is that prices for single-family homes are relatively high compared to other areas in Kentucky. This may make it difficult for first-time buyers or those who do not have ample savings available to purchase a home outright. Additionally, many Franklin residents commute long distances to work which can make it difficult to qualify for a mortgage on a nearby property."