About Franklin Gateway
Franklin Gateway in Waterloo offers a blend of affordability and convenience, making it an appealing choice for homebuyers seeking proximity to downtown amenities. The neighborhood is characterized by its walkability and extensive public transit options, including the Downtown Bus Station and Trailways BTW 1492 stop, facilitating easy commutes. Housing styles are diverse, featuring shotgun, four-square, Queen Anne, and Second Empire homes, primarily built in the early 1900s, with some newer constructions up to 2007. Despite limited yard space, residents often utilize their areas for outdoor activities. Franklin Gateway is home to All In Grocers, a multifaceted establishment that serves as a grocery store, community center, and restaurant, addressing the area's historical food desert status. The Salvation Army of Waterloo/Cedar Falls provides essential community services, including free lunches and a food pantry. Dining options are abundant, with Morg’s diner offering a nostalgic 60s experience. The neighborhood is adjacent to Riverfront Sports Park, featuring baseball diamonds, a skate park, and the Waterloo Riverfront Stadium, home to the minor league baseball team. While the area is vibrant, it experiences elevated noise levels due to its bustling streets. Nearby shopping includes Walmart, Target, and Menards, located about 4 miles south. Franklin Gateway presents a practical living option with its accessible home prices and community features.
Frequently Asked Questions
Is Franklin Gateway a good place to live?
Franklin Gateway is a good place to live. Franklin Gateway is considered somewhat walkable and very bikeable with some transit options. Franklin Gateway has 6 parks for recreational activities. It is fairly sparse in population with 4.8 people per acre and a median age of 35. The average household income is $26,796 which is below the national average. College graduates make up 11.6% of residents. A majority of residents in Franklin Gateway are renters, with 81.2% of residents renting and 18.8% of residents owning their home. A
local real estate agent serving Franklin Gateway can help you decide if this neighborhood is the right one for you. Learn more on our
Franklin Gateway neighborhood guide.
Is Franklin Gateway, IA a safe neighborhood?
Franklin Gateway, IA is less safe than the average neighborhood in the United States. It received a crime score of 8 out of 10.
How much do you need to make to afford a house in Franklin Gateway?
The median home price in Franklin Gateway is $108,950. If you put a 20% down payment of $21,800 and had a 30-year fixed mortgage with an interest rate of 6.81%, your estimated principal and interest payment would be $570 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $24K a year to afford the median home price in Franklin Gateway. The average household income in Franklin Gateway is $27K.
What are the best public schools in Franklin Gateway?
The best public schools that serve Franklin Gateway are:
- West High School has a B- Niche grade, a student teacher ratio of 17:1 and an average review score of 3.5.
- East High School has a C+ Niche grade, a student teacher ratio of 17:1 and an average review score of 3.5.
- Irving Elementary School has a C Niche grade and a student teacher ratio of 13:1.
What are the best private schools in Franklin Gateway?
The best private schools that serve Franklin Gateway are:
What are the most popular zip codes in Franklin Gateway, Waterloo, IA?
What are the most popular neighborhoods near Franklin Gateway, Waterloo, IA?
Home Trends in Franklin Gateway, IA
On average, homes in Franklin Gateway, Waterloo sell after 36 days on the market compared to the national average of 47 days. The average sale price for homes in Franklin Gateway, Waterloo over the last 12 months is $96,500, up 114% from the average home sale price over the previous 12 months.
Median Price (12 Mo)
$96,500
Median Single Family Price
$96,500
Average Price Per Sq Ft
$91
Last 12 months Home Sales
2
Median List Price
$108,950
Median Discount From 1st List Price
10%
Median Home Sale Price YoY Change
119%