Low Income Apartments and Affordable Housing For Rent in Franklin, MA

Discover affordable housing in Franklin where there are 2+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Eaton Place

Panther Way, Franklin, Massachusetts 2038

Franklin Commons

8 Gatehouse Ln, Franklin, Massachusetts 02038

Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

calendar_today Opened: Jan 6
Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Franklin, Massachusetts
$53.54/hour
$38.54 (+257%) more than Massachusetts minimum wage and $46.29 (+639%) more than the Federal minimum wage.
Learn More About Franklin, Massachusetts Affordable Housing ↓

What HUD offices serve Franklin, Massachusetts?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Moving to Work programs for Franklin, Massachusetts.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Franklin, Massachusetts.

Go to the Massachusetts Public Housing and Low-Income Apartments Waiting Lists page for openings near Franklin.

How many renters live in Franklin, Massachusetts?

The City of Franklin has 32,777 people living in 12,131 households.

There are 4,647 renters living in 2,527 renter households in this City. Renters make up 14.18 percent of the population living in Franklin.

What is the rental market like in Franklin, Massachusetts?

There are an estimated 12,580 housing units in the Franklin area. Of these, 2,842 units are rental homes, making up 23 percent of the housing market. For every renter household in Franklin, Massachusetts, there are 1 rental units.

What is the vacancy rate for rentals in Franklin?

The rental vacancy rate in Franklin is 10 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Franklin for each bedroom size?

Occupied Rental Units by Size in Franklin
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
120 1,020 999 313 55
Occupied Rental Units by Size in Franklin

A large number of apartments in Franklin have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Franklin are overburdened by housing costs?

Among renter households in this market, 48 percent have housing cost burden. Further, 24 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Franklin

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $2,212 to $3,765. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $2,212
One BR $2,377
Two BR $2,827
Three BR $3,418
Four BR $3,765
2024 Fair Market Rents in Franklin, Massachusetts

How many units are rented at Fair Market Rent (FMR) in Franklin?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 64 53 percent
One BR 511 50 percent
Two BR 257 26 percent
Rental Units Below FMR in Franklin, Massachusetts

How many affordable rental units are in Franklin?

There are a variety of federal affordable housing programs serving households in Franklin, Massachusetts including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 63
Section 202 Supportive Housing for the Elderly 50
Tracked Units by Federal Program in Franklin, Massachusetts

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Franklin, Massachusetts

Franklin features 50 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Franklin, Massachusetts

There are 96 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin.

Housing Choice Vouchers in Franklin, Massachusetts

On average, Section 8 Housing Choice vouchers pay Franklin landlords $1,100 per month towards rent. The average voucher holder contributes $400 towards rent in Franklin.

The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin, Massachusetts for a two-bedroom apartment is between $2,544 and $3,110.

Sourced from federal housing data and AffordableHousingOnline.com research.