Franklin, Minnesota.
Typical home $169,617 (+13.1% in a year).
to buy the typical home at today's mortgage rate — +$458 (+106%) since Jan 2020.
- 1 year
- Up $19,658 +13%
- $149,960$169,617 since Sep 2025
- 5 years
- Up $18,121 +12%
- $151,496$169,617 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Franklin$890
- Minnesota$1,831
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 31 years.
Typical home values in Franklin, MN rose 13.1% over the past year — faster than the nation's +1.2%.
Living in Franklin, Renville County, Minnesota
Franklin is a city of 493 people in Renville County. Half its households earn more than $51,500 a year and half less, against $70,625 across Renville County; 16% of its people live below the poverty line. 84% of its homes are lived in by their owners and 16% are rented. Unemployment in Renville County was 5.4% in August 2026, and the county had 2.0% more jobs in 2025 than the year before. The most people in Renville County work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Franklin is a very small city in Renville County, and most homes here are lived in by their owners. Household incomes run well below the county's, and a larger share of residents live below the poverty line than you might expect in a place this settled. Few adults hold a four-year degree, and the typical home is modestly priced.
Work. Residents work mainly in schools, hospitals and social care, with manufacturing, farming and shops also employing many. Across Renville County, some of the largest workplaces are Southern Minnesota Beet sugar cooperative, Olivia Hospital and Clinics, and the Bird Island-olivia-lake Lillian Schools district. Unemployment in the county is a little higher than it was a year ago, though the county has added some jobs.
Things to do. Fort Ridgely and Fort Ridgely State Park are both a short drive away, offering a historic fort and a protected area to walk through. The Renville County Historical Museum is also a short drive away, and Flandrau State Park is a longer drive for anyone wanting another day outdoors. Winters are cold, with January the coldest month, and summers turn pleasantly warm in July.
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- 218households
- 10%of adults have a degree
- 16%below the poverty line
- 8%work from home
What people in Renville County work in
Employed residents by industry, from the Census survey. Renville County had 5,595 jobs in 2025, 2.0% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 23° and lows near 6°; warmest in July, with highs near 84° and lows near 62°. About 28 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Redwood Falls Municipal Airport weather station, 10 miles away (NOAA).
Largest workplaces in Renville County
- Southern Minnesota Beet sugar cooperativeRaw beet sugar manufacturing505
- Renville CountyExecutive and legislative office combinations224
- HealthPartners, Inc.General medical and surgical hospitals137
- RCW KK-12 education109
- Transystems LLC - Renville ProjectAgricultural products trucking, local106
- Olivia Hospital and ClinicsCritical access hospital103FTE
- Bird Island-olivia-lake Lillian SchoolsSchool district88FTE
- Buffalo Lake Healthcare CenterSkilled nursing facility85
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 19 workplaces with 20 or more staff, 1,745 people in all across the county; Franklin has two of its own. Hospitals come from their Medicare cost reports (CMS, 2023) and school districts from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Strong windVery high
- Winter weatherVery high
- Cold wavesVery high
- DroughtRelatively high
- HailRelatively high
- TornadoesRelatively high
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Franklin’s census tracts, against the rest of the country; all of them together, relatively moderate. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Renville County.
Franklin home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Franklin$169,617
- Minnesota$348,778
- United States$366,157
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Zip codes with a Franklin address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Franklin — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Franklin
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 56266 | Morgan | 1,583 | — | $188,476 |
| 55333 | Franklin | 698 | — | $172,048 |