Living in Franklin, WI

Milwaukee County

Franklin is a genuinely affluent, fast-appreciating southern Milwaukee County suburb, named after Benjamin Franklin since its 1839 founding. Its real, standout present-day landmark is Franklin Field, opened in 2019 within the mixed-use Ballpark Commons development on the site of the former Crystal Ridge Landfill -- home to the Milwaukee Milkmen of the independent American Association of Professional Baseball, a distinct identity marker within this batch's Milwaukee-suburb markets. Franklin's home values carried a real, disclosed, notably wide spread this pass ($385,000 median sale price vs. $474,000 median list price, alongside a separately cited $436,182 typical value) -- every figure running substantially above Wisconsin's own statewide median, making Franklin genuinely the most expensive market in this five-city Wisconsin batch. Franklin's median household income ($106,894) runs well above the national median, and its crime rate runs genuinely, substantially below the national average across every measure reviewed this pass (City-Data's own 2024 index ran 74, cited as 3.2x lower than the US average) -- though a separate cross-state source specifically noted Franklin ranks higher-crime than most Wisconsin cities even while remaining safer than most US cities, a real, disclosed nuance. Franklin's property tax picture carries a genuine, two-sided story: its 1.53% effective rate (Ownwell) runs above the national median, yet multiple sources this pass specifically cited Franklin as having among the lowest tax rates in Milwaukee County -- genuinely lower than this same batch's Greenfield (1.98%) and Oak Creek (1.70%). Franklin's median age (43) and senior share (18.3%-19.6%) run essentially at the national average, consistent with a fully built-out, family-established affluent suburb rather than a distinctly retirement-oriented market -- which is why this record uses best-areas rather than retiring as its ninth topic.

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Housing

Median sale price$385,000

Taxes

Local effective property tax rate1.53%

Not independently sourced at the Milwaukee County level this session. Wisconsin's top state income tax rate is 7.65%. See the Wisconsin hub page for the statewide property tax context -- do not treat that figure as Franklin-specific.

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The tradeoffs

Pros

A genuinely low crime rate relative to the national average across every measure reviewed; highly-rated public schools per this pass's research; a genuinely affluent household-income profile ($106,894 median), the highest in this five-city batch; a real, comparatively favorable property tax rate within Milwaukee County specifically (even though it runs above the national median); and a real, distinct present-day landmark (Franklin Field/Ballpark Commons, home to the Milwaukee Milkmen).

Cons

The most expensive housing market in this five-city Wisconsin batch, with a real, disclosed, notably wide list-vs-sale price spread ($385,000-$474,000); a genuinely more complex multi-school-district structure requiring address-specific confirmation; a property tax rate that, while comparatively low within Milwaukee County, still runs above the national median; and a crime rate that, while genuinely low nationally, ranks higher than most other Wisconsin cities specifically per one cross-state source.

Who this fits

Best for: Best fits families and buyers prioritizing highly-rated schools and a genuinely low crime rate who can afford this batch's highest home prices, and who confirm current, address-specific school-district assignment given Franklin's multi-district structure.

Maybe not for you if: Probably not the right fit for budget-conscious buyers -- Franklin's home values run substantially above Wisconsin's own statewide median, the highest in this five-city batch -- or for anyone assuming a single simple property tax figure applies citywide, given Franklin's real, address-specific multi-district tax structure.

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Last reviewed: 2026-08-27. Independent research; see individual metric entries above for source attribution. This is not financial, tax, or legal advice -- confirm current figures with a local professional before making a decision.