Home Insurance in Franklin Town, Massachusetts
Homes in Franklin Town carry a median value of $611,700 - 11% lower than the Norfolk County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Franklin Town was built around 1985. About 23% of homes were built before 1960, about 22 points below Norfolk County's 45%.
In Franklin Town, the housing stock is 72% single-family homes and 18% apartments in buildings with 5+ units.
73% of owner-occupied homes in Franklin Town carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 78% of occupied homes in Franklin Town are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 60% of homes in Franklin Town are primarily heated with natural gas.
What's the biggest home insurance risk near Franklin Town? FEMA's National Risk Index points to inland flooding (Relatively High) in Norfolk County and Norfolk County had 5,629 active NFIP flood policies as of September 2026. See the full Norfolk County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Massachusetts carries a statewide average premium of $2,134 per year.
Key figures
| Median home value | $611,700 |
|---|---|
| Median year built | 1985 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 73% |
| Top county hazard | Inland Flooding (Relatively High) |
| Active NFIP policies in Norfolk County | 5,629 |
| Home insurance premium | $2,134 - 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)