Home Insurance in Franklin, Kentucky
The median home value in Franklin is $195,400, 15% lower than the Simpson County median.
The typical home in Franklin was built around 1973. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 29% of homes were built before 1960, about 4 points above Simpson County's 25%.
In Franklin, the housing stock is 78% single-family homes, 8% apartments in buildings with 5+ units and 3% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
In Franklin, about 64% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 55% of occupied homes in Franklin are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Franklin, 50% of homes are primarily heated with natural gas.
FEMA rates Simpson County's overall risk as Very Low, led by hail (Relatively Moderate). Simpson County had 32 active NFIP flood policies as of September 2026. See the full Simpson 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 Kentucky carries a statewide average premium of $1,525 per year.
Key figures
| Median home value | $195,400 |
|---|---|
| Median year built | 1973 |
| Owner-occupied share | 55% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Simpson County | 32 |
| Home insurance premium | $1,525 - 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)