Last updated: 2024 BLS data · Page refreshed:
Franklin has a population of 8,250 with a median age of 38.3. Here is the racial and ethnic breakdown of the population:
| Demographic | Value |
|---|---|
| Total Population | 8,250 |
| Median Age | 38.3 |
| White | 38.1% |
| Black or African American | 55.8% |
| Hispanic or Latino | 3.2% |
| Other / Two or More Races | 2.9% |
The median household income in Franklin is $63,245, which is 21.5% below the national median of $80,610. The per capita income is $31,433. The poverty rate is 19.3%.
The unemployment rate in Franklin is 3.9%, compared to the national rate of 4.1%.
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In Franklin, 86.2% of residents age 25+ have a high school diploma or higher, and 27.3% hold a bachelor's degree or higher (10.6% with a graduate or professional degree).
| Education Level | % of Adults (25+) |
|---|---|
| High School Diploma or Higher | 86.2% |
| Bachelor's Degree or Higher | 27.3% |
| Graduate or Professional Degree | 10.6% |
The median home value in Franklin is $256,600, below the national median of $303,400. The median monthly rent is $988. The homeownership rate is 53.9%.
| Housing Metric | Value |
|---|---|
| Median Home Value | $256,600 |
| Median Monthly Rent | $988 |
| Homeownership Rate | 53.9% |
| Vacancy Rate | 11.7% |
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