Explore New Franklin
Frequently Asked Questions
How much does it cost to rent a single-family home in New Franklin, OH?
The median rent for a single-family home in New Franklin, OH is $1,500 per month, though prices vary by neighborhood, size, and property type. As of May 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in New Franklin, OH?
To comfortably afford the median rent in New Franklin, OH, a household needs to earn roughly $60,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,500 per month in New Franklin, OH, renters typically need to show $4,500 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in New Franklin, OH?
In New Franklin, OH, the price-to-rent ratio is 15.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in New Franklin, OH are best for renting a single-family home?
The best neighborhood for renting in New Franklin, OH depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a single-family home include Kenmore, South Akron, Sherbondy Hill, East Akron and West Akron, each with its own character and price range.
