Schools
Franklin is served by Birmingham Public Schools, feeding into Groves and Seaholm high schools.
Oakland County, Michigan
Mortgage Broker in Franklin, MI
Local mortgage guidance for Franklin buyers and homeowners, with options shopped across multiple wholesale lenders and one Michigan broker who stays with your file.
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Buying a home in Franklin
Tucked between Southfield and Birmingham, the Village of Franklin (ZIP 48025) calls itself "the town that time forgot," and the financing here reflects that rarity. This is Michigan's first designated historic district, a roughly 3,160-person village of wooded estate lots, Greek Revival storefronts on the Village Green, and the Franklin Cider Mill grinding apples since 1837. There is almost no commercial base; Franklin is a bedroom community for executives and business owners who commute to Southfield, Troy, Birmingham, and Detroit. With a median household income near $194,000 and home values averaging around $853,000, many buyers here borrow near the conforming limit and need a broker fluent in jumbo financing, estate-parcel appraisals, and the quirks of high-value Oakland County purchases. Align Lending works these files every week.
By the numbers
Franklin housing and mortgage snapshot
Values move. Treat these as orientation and let us pull current figures for the address you are considering.
$853,000
Typical home value, from the market research on this page
+33%
Typical rise in taxable value the year after a home sells in Southfield Township, 2026 Uncapping Study
1.23%
Property tax current owners pay, as a share of value. A buyer's bill can reset higher the year after a sale
1
Residential ZIP code: 48025
What financing looks like in Franklin
At Franklin's price point, financing leans jumbo. With the 2026 conforming limit well below a typical $850,000 to $960,000 purchase, most buyers here cross into jumbo territory unless a large down payment pulls the loan under the conforming ceiling, so reserve requirements and credit tiers matter more than usual. Plan for income around $200,000 to $240,000 to carry a roughly $850,000 home, depending on your down payment, rate and debts. Property taxes are a real line item: Oakland County's effective rate is about 1.23%, with a median 48025 bill near $8,747. File your homestead exemption to skip the 18 non-homestead school operating mills and cap taxable-value growth. MSHDA first-time programs rarely fit these prices, but they can help adjacent-market buyers.
Most Franklin purchases fit under the 2026 conforming limit of $832,750; only the largest homes need a jumbo loan.
The market
The Franklin housing market
Franklin's price picture spans a wide band: Zillow pegs the average home value near $853,000 (up about 4.2% year over year), while Redfin and Homes.com put the median sale and list price closer to $960,000 to $990,000. Estate properties along Franklin Road routinely clear $1,500,000. Homes spend a median of roughly 53 days on the market as of mid-2026, down about 13% from a year earlier, though luxury-tier listings often sit 50 to 60+ days given the price points. Demand is driven less by raw inventory and more by scarcity: Birmingham Public Schools access, multi-acre wooded lots, and the historic-district character keep buyers competing for a small, tightly held housing stock.
Where to look
Franklin neighborhoods
Franklin Village (downtown historic core)
roughly $600,000 to $1,500,000+. Greek Revival, Colonial Revival, and Craftsman homes lining the Franklin Road Historic District, the original village center.
Franklin Road estate corridor
roughly $1,000,000 to $3,000,000+. Large wooded estate parcels and landmark Tudor/Colonial homes on multi-acre lots, including architect-designed estates like the 1929 Meldrum House.
Wooded ravine / Franklin River-area lots
roughly $700,000 to $2,000,000. Custom homes on rolling, tree-lined acreage that gives the village its rural feel.
Bingham Farms-adjacent (also 48025)
roughly $700,000 to $2,000,000+. Streets such as Woodlynne Drive with 5,000+ sq ft custom homes, sharing the ZIP and schools.
Schools and commute
Commute
Downtown Detroit is about 21 to 22 miles away, a 26 to 35 minute drive via Telegraph Road to M-10 (the Lodge) or I-696.
Michigan property taxes
Franklin property taxes after you buy
The year after a Michigan home sells, its taxable value resets to half of the assessor's market value, so the seller's tax bill is not your tax bill.
In Southfield Township, which assesses Franklin, our 2026 Uncapping Study found taxable value typically rises about 33% the year after a sale. On a $850,000 home, near the typical Franklin value, that is roughly $3,730 more in first-year tax at the village's homestead millage. We build your payment on that post-sale number.
Looking at a Franklin address? Our Michigan property tax calculator finds that property's published 2025 millage and works out the tax to plan for after you buy.
In Samantha's words
County alone does not tell you much. We would never say you are in a particular county so here are your taxes. It does not work like that. We need the actual property.
Local resources
Check Franklin records yourself
The official offices behind the tax and school details on this page.
- Southfield Township Assessing, for parcel records and current taxable value
- Birmingham Public Schools, for district boundaries and enrollment
- Oakland County Treasurer, property taxes, for county property tax records
What our clients say
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As a first-time homebuyer in Ferndale, I was unsure of some things. Samantha was awesome. She was extremely helpful and made sure I understood every part of the process.
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Samantha Shelton is amazing!! She helped me get into my first home in Ferndale. The closing process was easy I was able to take care of everything without taking a day off of work. Being a first time homebuyer was stressful but she provided clear communication and true experience guidance throughout the entire process
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Individual experiences. Results vary.
Franklin mortgage questions
If yours is not here, ask it on the call. There are no dumb questions.
What is the median home price in Franklin, MI (48025)?
Estimates for mid-2026 range from about $850,000 (Zillow’s average home value, up about 4.2% year over year) to roughly $960,000 to $990,000 for the median sale/list price (Redfin and Homes.com). Franklin is a high-priced ZIP code for Oakland County, so individual estate properties commonly exceed $1,500,000.
What are property taxes like in Franklin, MI?
Oakland County’s effective property tax rate runs about 1.23%, and the median annual tax bill in the 48025 ZIP is roughly $8,747, well above the national median because of high home values. Michigan’s homestead exemption caps annual taxable-value growth at the lesser of 5% or inflation, and primary residences avoid the 18 mills of school operating tax that non-homestead (second-home/investment) parcels pay.
What school district serves Franklin, MI 48025?
Franklin is served by Birmingham Public Schools. Students typically attend schools feeding into Groves or Seaholm high schools.
How long do homes stay on the market in Franklin?
As of mid-2026, homes in Franklin spent a median of about 53 days on the market, down roughly 13% from a year earlier. Higher-priced estate homes can take longer, often 50 to 60+ days, given the luxury price points.
What is the commute from Franklin to downtown Detroit?
Downtown Detroit is about 21 to 22 miles away, a roughly 26 to 35 minute drive depending on traffic, usually via Telegraph Road to M-10 (the Lodge Freeway) or I-696. Franklin’s quick access to Detroit, Southfield, Troy and Birmingham job centers is a big part of its appeal as an upscale bedroom community.
Communities near Franklin
Oakland County overviewTalk with a local mortgage expert
Tell Samantha what you are trying to do in Franklin and she will tell you what actually matters for your situation, including whether the timing is right.
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Tell us what you are trying to do
Not what product you want. What you are actually trying to accomplish.
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Samantha looks at your situation
She works out what matters most for you specifically.
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You leave with a plan
Your options, the tradeoffs, and your next step. No obligation to go further.
Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. Figures on this page are market research for orientation, not a quote. This page is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit.
