The ranking places Franklin behind only Scottsdale, Arizona. The figures reflect a housing market shaped by the city's walkable downtown, the draw of Williamson County Schools and its proximity to downtown Nashville — factors that have brought a steady stream of new residents and pushed prices steadily upward.

The squeeze is being felt most acutely by people who grew up in Franklin and hoped to stay. Jack Bryant, who rents in Cool Springs and is trying to buy his first home, said he worries he could soon be priced out of the rental market as well.

"I want to stay here. I grew up here. This is my home," Bryant said. He described paying nearly $2,000 a month for a one-bedroom apartment of about 760 square feet, and said the space is too small for the family he hopes to start.

Real estate agent Kate Goerlinger said elevated interest rates could create challenges for sellers in 2027, but may work in buyers' favor as homes linger on the market depending on their price point. She called the conditions "a great opportunity" for buyers, who may be able to negotiate away closing costs or avoid paying above asking price.

Even so, competition remains fierce at the lower end of the market: realtors say homes priced around $500,000 do not stay listed for long.

For residents who cannot afford to buy in Franklin, the practical options are renting for longer than planned or looking to neighboring communities such as Nolensville and Spring Hill. The ranking underscores a broader affordability crunch across the region, where rapid growth and limited housing supply continue to test the ability of longtime residents to remain in the communities they call home.