Franklin County today
What this means
The past year cost Franklin County owners about 2.4% in value, now 8.7% below the Jun 2024 peak.
Permits January to September 2026: 111 homes, 29% more than 2025.
About 55% of homes sit in a FEMA high risk flood zone, where a mortgage requires flood insurance. Get a flood quote before you make an offer.
Treat these as area figures and confirm rent with comps. Sources and method: how these figures are built.
Quick facts
| Franklin County | Compared with Florida | |
|---|---|---|
| Population, 2025 estimate | 13,029 | 0.1% of Florida |
| Growth since 2020 | 4.7% | -4.2 pts |
| Median home value | $273,300 | 24% lower |
| Median gross rent | $1,049 | 37% lower |
| Median household income | $64,105 | 14% lower |
| Owner occupied homes | 80.9% | +13.3 pts |
| Residents 65 and older | 26.5% | +5.2 pts |
| Average commute | 19 min | 31% lower |
| Homes built 2010 or later | 10.3% | -3.9 pts |
| Housing units permitted in 2025 per 1,000 residents | 8.6 | 13% higher |
| Veterans, share of adults | 9.7% | +2.3 pts |
| Median property tax paid | $1,728 | 37% lower |
| Average homeowners insurance with wind | $5,221 |
Census figures are 2020 to 2024 averages; see sources and methods.
Living in Franklin County
Compared with the rest of Florida, Franklin County has many seasonal and vacation homes (23.7% of housing); higher than average insurance ($5,221 a year); and rents below the state median ($1,049 vs $1,669).
Gulf coast Panhandle county known for large preserved forests, rivers and barrier islands. County seat: Apalachicola. Created in 1832.
The population centers are Eastpoint, Carrabelle and Apalachicola. Eastpoint alone has about 3,163 residents.
What anchors the area
- Economy: timber; commercial fishing; tourism
- Known for: Tate's Hell State Forest; Bald Point State Park; St. George Island
Retirees are a big part of this market (26.5% of residents are 65 or older). Households are small, averaging 2.21 people. Commutes are short, about 19 minutes on average.
Growth and where it is heading
The Census counts 13,029 residents as of July 2025, versus 12,450 in 2020, a 4.7% change. The 2024 to 2025 change was +0.58%.
| 2025 building permits | Units |
|---|---|
| Single family | 112 |
| 2 to 4 units | 0 |
| 5 or more units | 0 |
| Total | 112 |
| Per 1,000 residents | 8.6 (close to Florida, 7.6) |
See the Panhandle and Big Bend investor guide for regional corridors.
Risks to price in
Franklin County has had no hurricane landfall since 2000, though passing storms still bring wind and flooding.
Insurance runs about $435 a month here on average ($5,221 a year with wind, per state regulators).
Coastal county: check the flood zone and elevation of every address.
Older stock (33.3% built before 1980) means insurers will look hard at roofs, wiring and plumbing. Insurance and inspections
Flood, storms and jobs
| Franklin County | Florida | |
|---|---|---|
| Homes in a FEMA high risk flood zone | 4,340 (55%) | 13.3% |
| Homes with federal flood insurance | 1,984 (25.1%) | 13.7% |
| Insured share inside high risk zones | 42.7% | |
| Flood insurance claims since 2000 | 1,815, $39,151,400 paid | |
| Costliest flood events for insured homes | Hurricane Michael ($18,661,784); Hurricane Dennis ($16,797,710); Other or unnamed flooding ($1,292,284) | |
| Major federal disasters declared since 2000 | 21 (15 hurricane, 3 severe storm, 2 tropical storm) |
Federal flood policies in high risk zones get 15% off here, thanks to the county (unincorporated areas)'s CRS class 7 rating. Current map: 10/10/24.
Private employers in Franklin County: 2,315 jobs (2023), led by hotels and restaurants (23%), retail (23%), health care and social assistance (12%). Tourism signal: 23% work in hotels and restaurants, well above the state's 13%.
Buying a home in Franklin County
| 2026 loan limit, one unit | Amount |
|---|---|
| FHA | $541,287 |
| Conforming (above this is jumbo) | $832,750 |
The median priced home fits under the FHA limit with room to spare. FHA limits
Homes cost 4.3 times the median household income here, versus 4.8 statewide. That makes ownership easier to reach than in most of the state.
Loans made here in 2025
| Loan type | Loans | Share | Florida share | Average loan |
|---|---|---|---|---|
| Conventional | 268 | 85.6% | 72.2% | $467,687 |
| FHA | 30 | 9.6% | 17.8% | $247,667 |
| VA | 13 | 4.2% | 9.9% | $379,615 |
| USDA | 2 | 0.6% | 0.2% | $190,000 |
| Purpose | Share of 2025 loans |
|---|---|
| Home purchase | 58.1% |
| Cash out refinance | 11.2% |
| Rate and term refinance | 10.2% |
| Home improvement | 8% |
That is up 12.2% from 279 loans in 2024. Most buyers here use conventional financing.
Loans that fit the local numbers
- Conventional: used for 85.6% of loans; mortgage insurance comes off later.
- FHA: the $541,287 limit covers the typical $273,300 home.
- VA: veterans are 9.7% of adults (Florida 7.4%).
- USDA: outside the main towns, many addresses in a county of 13,029 can qualify.
Down payment help and taxes
For assistance, start with the state programs at the Florida Housing Finance Corporation. Median property tax here: $1,728, or 0.63% of the median value. Homestead and tax caps
Investing in Franklin County
DSCR loans often price above this rate. Method. DSCR loans
Run your own numbers
Long term rentals
| Franklin County | vs Florida | |
|---|---|---|
| Renter occupied homes | 19.1% | -13.3 pts |
| Rent as share of renter income | 32.9% | -2.3 pts |
| Rental vacancy | 49% | +41.4 pts |
Vacancy is high; price rentals carefully.
Short term rentals
| Item | Here |
|---|---|
| County tourist tax | 3% |
| Plus state sales tax | 6% (plus any county surtax) |
| Homes held for seasonal use | 23.7% (+15.9 pts vs Florida) |
Zoning, registration and HOA rules decide if a home can rent nightly. State rules
Property types
| Housing stock | Share |
|---|---|
| Single family detached | 69.2% |
| Buildings with 5+ units | 7.8% |
| Manufactured homes | 14.9% |
| 2025 loans on 2 to 4 unit properties | 1.6% |
Largest cities and towns in Franklin County
Among places with at least 1,000 residents, St. George Island has the highest median value ($693,000) and Eastpoint the lowest ($201,000); Eastpoint shows the best rent to price ratio (5.62% gross).
| Place | Population | Median value | Median rent | Median income |
|---|---|---|---|---|
| Eastpoint | 3,163 | $201,000 | $941 | $68,258 |
| Carrabelle | 2,438 | $217,900 | $914 | $49,792 |
| Apalachicola | 2,431 | $288,000 | $1,108 | $51,875 |
| St. George Island | 1,133 | $693,000 | Not reported | $137,899 |
Census places, including unincorporated communities. Linked places have their own guide.
Compare with neighboring counties
| County | Median value | Median rent | Growth since 2020 |
|---|---|---|---|
| Franklin County | $273,300 | $1,049 | 4.7% |
| Gulf County | $250,000 | $1,187 | 12.3% |
| Liberty County | $127,300 | $943 | 0.7% |
| Wakulla County | $258,300 | $1,108 | 12.8% |
Other Florida markets
Sources
- U.S. Census Bureau, American Community Survey 2020 to 2024 5 year estimates. 2020 to 2024.
- U.S. Census Bureau, Population Estimates, Vintage 2025. July 1, 2025.
- U.S. Census Bureau, Building Permits Survey, 2025 annual. 2025.
- FFIEC HMDA Data Browser, originated loans. 2025 and 2024.
- LendingTree: 2026 FHA loan limits in Florida by county (HUD figures). 2026.
- Florida Realtors: FHFA sets 2026 conforming loan limits. 2026.
- Florida Office of Economic and Demographic Research: 2026 local option tourist tax rates. 2026.
- Florida Office of Insurance Regulation, July 2026 Insurance Stability Unit report (average homeowners premium with wind, as of March 31, 2026). March 31, 2026.
- Freddie Mac Primary Mortgage Market Survey. week of October 22, 2026.
- Wikipedia: List of counties in Florida. checked October 2026.
- U.S. Census Bureau county adjacency file. 2024.
- Wikipedia county article and statewide lists (colleges, teams, airports); Florida Defense Support Task Force installation map. checked October 2026.
- Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted. September 2026.
- Federal Housing Finance Agency House Price Index (county annual, metro and state quarterly, all transactions). through Q2 2026.
- U.S. Census Bureau, Building Permits Survey, January to September 2026 and 2025. September 2026.
- FEMA OpenFEMA, NFIP Residential Penetration Rates. as of August 2026.
- FEMA OpenFEMA, FIMA NFIP Redacted Claims (2000 to 2026). as of September 2026.
- FEMA OpenFEMA, NFIP Community Status Book (Community Rating System class). August 2026.
- FEMA OpenFEMA, Disaster Declarations Summaries (2000 to 2026). October 2026.
- U.S. Census Bureau, County Business Patterns 2023. 2023.
- U.S. Census Bureau, ACS 2020 to 2024, median gross rent by bedrooms (B25031). 2020 to 2024.
- Hurricane landfalls: Wikipedia, List of Florida hurricanes (2000 to present). checked October 2026.
Estimates from public data; they change over time. General information, not investment, tax or legal advice, and not a loan offer. Methods and assumptions.