Commercial Real Estate Market in Franklin, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
58 active listings and 889 off-market properties in Franklin, IN. Commercial property asks $146/SF to buy and $14.81/SF/Yr to lease.
Market Trends
Franklin, IN spans 126.0 square miles in Johnson County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Franklin, IN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Franklin, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Franklin, IN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Franklin, IN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 34.5%
- Industrial 31.8%
- Planned_development 14.4%
- Mixed use 8.7%
- Civic 8.2%
- Agricultural 2.4%
Largest Zones share of zoned land by district
Residential Suburban Neighborhood
Industrial Light
Planned Unit Development
Industrial General
Institutional
Residential Suburban Neighborhood (RSN)
RSN - Residential, Suburban Neighborhood .............. page 3-14 RS-1 - Residential, Suburban One ............................. page 3-16 RS-2 - Residential, Suburban Two ............................. page 3-18 RS-3 - Residential, Suburban Three .......................... page 3-20 RTN - Residential, Traditional Neighborhood ............ page 3-22 RT-1 - Re…
Market overview
Demographics & Economy
Franklin, IN has 32,869 residents in 13,151 households. Density runs 261 people per square mile. Median household income here is $81,914 and median gross rent $1,114 a month.
32,869
Population
13,151
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
126 sq mi
ZIP Area
261
Density / Sq Mi
$81,914
Median Household Income
$44,797
Median Earnings
$1,114
Median Rent
$227,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Bengal | — | — |
| Hopewell | — | — |
| Urmeyville | — | — |
| Amity | — | — |
Commercial property in Franklin, IN asks $146/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Franklin?
Commercial property in Franklin, IN asks an average of $146 per square foot.
How much does it cost to lease commercial space in Franklin?
Asking lease rates in Franklin, IN average $14.81 per square foot per year.
Where does Realmo's Franklin market data come from?
Realmo compiles Franklin, IN figures from 34 active sale listings, 24 active lease listings, 889 tracked off-market properties, the current Franklin zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 34 active for-sale and 24 active for-lease listings in Franklin, IN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 10,132 zoned acres across 19 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
