Median Household Income
$194,079 ± $33,148
Median Home Value
$774,900 ± $70,276
Median Gross Rent
—/mo
Per Capita Income
$125,797
Poverty Rate
2.8%
Unemployment Rate
2.0%
Homeownership Rate
98.2%
Bachelor's Degree or Higher
80.2%
Median Age
49.5
Average Commute
20 min
Households
1,032
Veterans
36
Population Over Time
Franklin shrank 17.8% from 2014 to 2024.
2014
3,106
2016
3,262
2018
3,332
2020
2,877
2022
2,653
2024
2,554
Population by Race & Ethnicity
White
79.7%
Hispanic or Latino
7.2%
Black or African American
8.3%
Asian
3.0%
Nearby Cities in Michigan
Source: U.S. Census Bureau, American Community Survey, ACS 2020-2024. Estimates carry a margin of error (shown as ±) inherent to ACS's sample-based methodology.