Franklin County

Franklin County prices out at a median of $112,382, which puts it in a rare category of genuinely affordable Midwestern real estate. The 5.1% year-over-year home price appreciation is meaningful for a county at this price point, and the affordability index hitting 100, the ceiling of the scale, confirms that entry costs here are as low as they get relative to local incomes. The appreciation score of 86 out of 100, paired with a national rank of 7th out of 1,000 counties, signals that the market is punching well above its weight on price momentum. What the data does not show is a cap rate or cash-on-cash return figure, which means investors cannot rely on this analysis to confirm cash flow from the provided inputs alone. The cash flow score registers at 0, which is a real signal worth sitting with before underwriting.

That scoring profile, high appreciation, zero cash flow score, points clearly at who this market suits and who it does not. A cash-flow buyer hunting a 7% or 8% cap rate should not lead with Franklin County based on these numbers. An appreciation buyer willing to accept thinner near-term returns in exchange for a $112,382 entry price and 5.1% annual price growth has a legitimate case here, particularly because the downside on a sub-$115,000 acquisition is structurally limited compared to a market where the same appreciation percentage applies to a $350,000 asset. A value-add operator also has reason to look hard at this county: when the median price is this low, even modest forced appreciation through renovation, converting a distressed single-family into a rentable condition asset, can move the needle on both equity and yield without requiring the kind of capital a higher-priced market demands.

The property tax picture in Franklin County deserves a dedicated line on every underwrite. Illinois carries a state-average effective property tax rate of 2.27%, which the Tax Foundation flags as very high, and this is a state-average estimate, meaning actual county and township rates may differ, potentially higher or lower. On the median purchase price of $112,382, that translates to $2,551 annually in property taxes and $303 in insurance, combining to $238 per month in tax and insurance carry costs before a single dollar of mortgage, maintenance, or management expense is counted. On a sub-$113,000 asset, $238 a month is not trivial. If gross rents in this market are in a range where that figure represents 25% or more of monthly income, the math gets tight fast. Illinois property taxes are a structural headwind across the state, and Franklin County does not get a pass on that reality simply because home prices are low. Underwrite the actual county rate, not the state average, before committing.

On concentration and stability, the data scores Franklin at 50 out of 100 for stability, which is middling and warrants attention. A population of 37,810 means this is a small county, and small counties carry concentration risk by definition. If a single employer contracts or a single industry softens, the rental demand pool is thin enough that vacancy can move materially. No economic anchor data was provided for this county, so no employer-level analysis is possible here. What the stability score alone suggests is that an investor should independently verify what is driving local employment before assuming the 5.1% price appreciation is demand-driven rather than a function of a thin transaction volume that can reverse quickly.

Compared to the neighboring counties in the dataset, Franklin at $112,382 is the second-cheapest entry point, edged out only by Massac County at $112,844, and Massac scores one point higher overall at 81 versus Franklin's 80. That margin is close enough to make the choice between them depend on factors outside this dataset, specifically local employment, actual tax rates, and rental comps. Richland and Marshall counties price in at $132,577 and $131,595 respectively, both scoring 80 or 81, which means an investor pays roughly $19,000 to $20,000 more at the median for no material improvement in the overall investment score. Menard County sits at $198,736 with the same overall score of 80, making it the hardest to justify on a pure price-to-score basis. Edwards County at $124,765 and a score of 79 is the one neighbor that underperforms Franklin on both dimensions. The clearest reason to choose Franklin over the peer group is the combination of the lowest price point and the highest appreciation score, 86, in the set. If price momentum continues and the Illinois tax burden is already baked into your numbers, Franklin is the sharpest entry in this neighborhood.