Franklin Park, Detroit, MI
Franklin Park — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Franklin Park, Detroit, Michigan. Explore the cited sources and local facts below while agent underwriting continues.
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Franklin Park Neighborhood Overview
Franklin Park is a residential neighborhood located on Detroit's east side, centered around the historic park of the same name. The area is characterized by its quiet, tree-lined streets and a mix of early 20th-century architectural styles. It offers residents a classic Detroit neighborhood feel with close proximity to major cultural and employment centers.
Lifestyle & Amenities
The neighborhood's namesake, Franklin Park, serves as a central green space for community gatherings and recreation. Residents have convenient access to several major thoroughfares for shopping and dining needs in nearby districts. The area maintains a strong sense of community, with local organizations often hosting events in the park.
Real Estate Market
The median home value in Franklin Park is $381,500, according to U.S. Census Bureau ACS 5-Year Estimates (2022). Current market data shows a price per square foot of approximately $76.3/sqft, according to Redfin market data. This indicates a market with a range of housing options, from renovated historic homes to more modest properties.
Schools & Education
Franklin Park is served by the Detroit Public Schools Community District. Families in the area have access to various public school options, and several charter and private schools operate in the broader region. Prospective residents are encouraged to research current school assignments and ratings directly with the district.
Transportation & Connectivity
The neighborhood is well-connected by major roads like Gratiot Avenue and I-94, providing quick access to downtown Detroit and other suburbs. Public transportation options include several DDOT bus lines that run along these primary corridors. Its location offers a relatively straightforward commute to key employment hubs in the city.
Why Choose Franklin Park
Franklin Park appeals to those seeking an established neighborhood with historic character and a strong community anchor in its central park. The real estate market presents an opportunity for homeownership in Detroit with a median value above the citywide average, according to U.S. Census Bureau ACS 5-Year Estimates (2022). Its convenient location and quiet streets make it a practical and charming choice for many residents.
Sources
- U.S. Census Bureau, American Community Survey 5-Year Estimates (2022) — data.census.gov
- Redfin Neighborhood Market Tracker — redfin.com/news/data-center
Franklin Park Market Data
| Metric | Value |
|---|---|
| Median Home Price | $382K |
| Median Gross Rent | $765/mo |
| Median Household Income | $22K |
| Homeownership Rate | 11.4% |
| Renter-Occupied | 88.6% |
| Rental Vacancy Rate | 4.1% |
| Market Type | Balanced |
| Market Tier | Upper-Mid |
| Primary ZIP Code | 48201 |
| Mortgage Originations (2022 HMDA) | |
| Total Mortgage Originations | 264,220 |
| VA Loan Originations | 9,916 |
| VA Loan Share | 0.0% |
| Average VA Loan Amount | $247K |
| Conventional Loan Originations | 227,996 |
| FHA Loan Originations | 26,308 |
Top Real Estate Agents in Franklin Park, Detroit
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Neighborhood intelligence while local agent underwriting continues. No agent profiles are currently published for Franklin Park, Detroit, MI. Explore the available cited neighborhood data on this page.
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Data Provenance
- State Licensing: Michigan Department of Licensing and Regulatory Affairs (LARA) — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Mortgage Data: FFIEC Home Mortgage Disclosure Act (HMDA) Data, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-15