Home Insurance in Franklin, Indiana
With a median home value of $231,500, Franklin is 19% lower than the Johnson County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Franklin was built around 1994. About 22% of homes were built before 1960, about 6 points above Johnson County's 15%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Franklin is 80% single-family homes, 11% apartments in buildings with 5+ units and 4% mobile or manufactured homes.
In Franklin, about 75% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 66% of occupied homes in Franklin are owner-occupied. The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
58% of homes in Franklin are primarily heated with natural gas.
FEMA rates Johnson County's overall risk as Relatively Low, led by strong wind (Relatively High). Johnson County had 392 active NFIP flood policies as of September 2026. See the full Johnson County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Indiana carries a statewide average premium of $1,259 per year.
Key figures
| Median home value | $231,500 |
|---|---|
| Median year built | 1994 |
| Owner-occupied share | 66% |
| Share of owner-occupied homes with a mortgage | 75% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Johnson County | 392 |
| Home insurance premium | $1,259 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)