Franklin
A median age of 52 makes Franklin one of Tasmania's oldest resident populations, sitting 12 years above the national figure, and that demographic weight shapes almost everything else here. The suburb spans 45.73 km2 in the Huon Valley with a population of 1,301, giving a density of just 28.5 residents per km2. Household income sits in the 25th percentile nationally, yet 49.9% of dwellings are owned outright, the highest ownership-without-debt share found in most regional Tasmanian markets. The median house price reached $620,000 in YTD 2026, down from a peak of $750,000 in 2024, a 17.3% correction that signals cooling demand after the sea-change surge of the early 2020s.
Population
1,301
Median Age
52.0
Household IncomeiMedian weekly household income (ABS Census)
$1,205/wk
DAs (12 months)iDevelopment Applications lodged in the past year
0
Median House
$620K
YTD 2026
At $620,000, the Franklin median house price is 17.3% below the 2024 peak of $750,000, so buyers today are entering after a meaningful correction. The stock is almost entirely detached housing, with 93.8% of dwellings being separate houses, and just 0.7% semi-detached and 1.1% apartment. Three-bedroom homes dominate at 48.3% of stock, with 4-plus bedroom homes at 24.0%, reflecting the large-lot, rural-residential character of the area. Monthly mortgage repayments average $1,300, and the mortgage-to-income ratio sits at 24.9%, below the 30% stress threshold despite incomes in the bottom quartile nationally. The 49.9% outright ownership rate is unusually high compared to the national average, reflecting long-term established residents who bought in well below current prices.
For Buyers
At $620,000, the Franklin median house price is 17.3% below the 2024 peak of $750,000, so buyers today are entering after a meaningful correction. The stock is almost entirely detached housing, with 93.8% of dwellings being separate houses, and just 0.7% semi-detached and 1.1% apartment. Three-bedroom homes dominate at 48.3% of stock, with 4-plus bedroom homes at 24.0%, reflecting the large-lot, rural-residential character of the area. Monthly mortgage repayments average $1,300, and the mortgage-to-income ratio sits at 24.9%, below the 30% stress threshold despite incomes in the bottom quartile nationally. The 49.9% outright ownership rate is unusually high compared to the national average, reflecting long-term established residents who bought in well below current prices.
For Investors
Franklin's rental market is thin: only 17.0% of dwellings are rented, well below the national average, and weekly rent averages $315. The 10.6% vacancy rate is elevated, pointing to excess supply relative to the small tenant pool of 1,301 residents. Gross yield at $315 per week against a $620,000 median works out near 2.6%, low by regional Tasmanian standards. Net overseas migration adds 173 residents per year to the broader area, but net internal migration runs at negative 257 annually, meaning the suburb loses more residents than it gains domestically. Development activity is nil in the past 12 months, so there is no pipeline pressure on supply. The CAGR since 1996 is 6.3% over 30 years, and prices are now 520% above the 1996 starting point of $100,000, so the long-term capital story is stronger than the current yield.
Schools in Franklin iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Franklin Primary School
K-6 · 154 students
Demographics
Franklin's median age of 52 is 12 years above the national figure, the result of a decade-long trend where the senior share rose 2.7 points and the young adult share declined 3.4 points. Only 43.8% of residents participate in the labour force, compared to a national norm above 65%, because so much of the population is retired or semi-retired. Overseas-born residents make up 19.4% of the population, which is 2.2 percentage points below the national figure. Ancestry is overwhelmingly Anglo-Celtic: English (518), Irish (140) and Scottish (115) are the top three groups. University qualifications reach 27.5%, sitting 2.6 points below the national rate. The average household size is 2.4, fractionally below the national 2.5. Couples without children make up 38.4% of families, the dominant household type, consistent with an aging, post-child-rearing demographic.
Age Distribution
Bedrooms
Dwelling Structure
93.8%
Houses
0.7%
Townhouse
1.1%
Apartment
Tenure
The price history tells a clear boom-and-correction story: from $100,000 in 1996, the median climbed to a peak of $750,000 in 2024 before retreating to $620,000 in YTD 2026, a 17.3% pullback. Over 30 years the CAGR is 6.3%, a competitive long-run return compared to most regional Australian markets. Tenure is heavily skewed toward ownership: 49.9% own outright, 33.1% carry a mortgage and only 17.0% rent. The stock is 93.8% detached houses on a 45.73 km2 footprint, with essentially no apartments. Three-bedroom homes make up 48.3% and 4-plus bedroom homes 24.0%. The vacancy rate of 10.6% is high for a small market, suggesting a segment of holiday or lifestyle properties that sit unoccupied. Mortgage stress is below threshold at 24.9% of income, and rent stress is also clear at 26.1%.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$1,300
Rent / wk
$315
HH Size
2.4
Personal Income / wk
$522
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
10.6%
Unoccupied
52
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
26.1%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
24.9%
Community Profile
Ancestry
Household Composition
38.4%
Couples, no children
898
Total families
Economy & Employment
Healthcare is the single largest employer at 16.0% of the local workforce (52 workers), followed by Agriculture at 11.0% (36) and Education at 9.8% (32), a combination that reflects both the aging population driving health demand and the valley's strong horticultural and berry-farming sector. Professional and technical services employ 9.5% (31 workers), and Public Administration accounts for 8.0% (26). By occupation, Professionals lead with 88 workers, followed by Managers (71), Labourers (68) and Community and Personal Service workers (63). The unemployment rate is 6.7%, above the national average, and full-time employment reaches only 52.1% of those employed, reflecting the part-time and seasonal nature of agricultural and tourism work. Franklin scores IRSD decile 4 and IRSAD decile 4, placing it in the lower two-fifths of suburbs nationally on both disadvantage measures.
Unemployment
2.1%
Labour Force
5,047
Unemployed
105
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
52.1%
Part-time
41.2%
Participation
43.8%
Employed
461
Occupations
Top Industries
University
27.5%
Postgraduate
8.2%
Born Overseas
19.4%
Dwellings
437
Transport to Work
Car dependency is near-total in Franklin: 91.2% of residents drive to work, and only 1.1% use public transport, substantially below the national average, because the valley lacks a train line and bus services are infrequent. Walking and cycling account for 2.5% of trips. No schools are recorded inside the Franklin boundary, so families travel to neighbouring Huonville or Cygnet for schooling. Crime statistics are not available for this suburb. The SEIFA IRSAD decile of 4 places Franklin in the lower two-fifths nationally on the combined advantage-disadvantage index. On the positive side, 24.3% of residents volunteer, above the national norm, and housing stress is contained: rent-to-income at 26.1% and mortgage-to-income at 24.9% are both below the 30% stress threshold despite incomes sitting in the 25th percentile nationally.
Drive
91.2%
Public Transport
1.1%
Walk / Cycle
2.5%
Work from Home
N/A
Population Forecast
+3.94%/yr
(+296 people/yr)
High GrowthPopulation growth across the broader SA2 area has been strong at a 10-year rate of 96.7%, nearly doubling, and the annual trend projects 3.94% growth or 296 additional residents per year through 2031. Medium forecasts put the wider area's population at 10,100 by 2031, up from around 7,520 today. However, the internal migration signal is negative: the area loses 257 residents a year through interstate movement and gains only 173 through overseas migration, so net migration is negative 84. The suburb's gentrification score is 0 and it is classified as not gentrifying, consistent with the net internal outflow and stable affordability ratios (40.5% in 2011, 41.0% in 2021). Real income growth was negative 13.1% over the decade, which means purchasing power has eroded even as prices climbed.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+173
Net Internal / yr
-257
Gentrification Signal
Not gentrifying
Net internal outflow -257/yr
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Franklin compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Franklin a good suburb to live in?
Franklin suits retirees and tree-changers well: 49.9% of homes are owned outright, housing stress is low with mortgage-to-income at 24.9%, and 24.3% of residents volunteer, reflecting a strong community fabric. The trade-offs are limited public transport (only 1.1% of commuters use it), no recorded schools inside the suburb, incomes in the 25th percentile nationally, and a SEIFA IRSAD decile of 4.
What is the median house price in Franklin?
The median house price is $620,000 in YTD 2026, down 17.3% from the 2024 peak of $750,000. Monthly mortgage repayments average $1,300 and weekly rent is $315. Since 1996 prices have risen 520% from $100,000, a 6.3% compound annual growth rate over 30 years.
What schools are in Franklin?
No schools are recorded inside the Franklin suburb boundary in this dataset. The suburb population of 1,301 is predominantly older residents with a median age of 52, and families with school-age children typically travel to nearby Huonville or Cygnet for primary and secondary schooling. University qualification rates reach 27.5% locally.
Is Franklin safe?
Detailed crime statistics are not available for Franklin in this dataset. As an indirect indicator, the suburb scores IRSD decile 4 nationally, placing it in the lower two-fifths on relative disadvantage. The 24.3% volunteering rate and 81.7% residential stability (residents who stayed in the same dwelling) suggest a settled, low-turnover community.
Is Franklin good for property investment?
The long-run capital case is solid: a 6.3% CAGR over 30 years and a 520% rise from $100,000 in 1996. Current gross yield is around 2.6% ($315 rent vs $620,000 median), and the 10.6% vacancy rate is elevated. Net internal migration is negative 257 per year, which limits tenant demand, and development activity was nil in the past 12 months.
How is Franklin's population changing?
The broader area grew 96.7% over 10 years and the annual trend projects 3.94% growth through 2031. However, net internal migration is negative 257 per year, partly offset by overseas migration of 173 annually. The resident base is aging, with the senior share up 2.7 points and the young adult share down 3.4 points over the decade, and real income growth was negative 13.1%.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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