Franklin, MA
Maps & Population Facts
Population
32,843
Population Density
1,233
Labor Participaton
71.3%
Bachelor's or Higher
56.0%
Median Household Income
$111,935
Median Individual Income
$55,480
Median Individual Income(Full-time Workers Only)
$74,987
Housing Estimates
Median House Value
$403,000
Median Gross Rent
$1,190
Median Mortgage Payment
$2,378
Housing Units
11,620
People who reside in Franklin live in:
Detached - Single Family Homes
68%
Apt, Condo, Other
32%
Analysis
Income
Households in Franklin earn significantly more money than the national median income, averaging 86% higher per household.
Housing
Franklin has a median house price of $403,000. The cost of homeownership is significantly higher than most areas. The cost of renting in Franklin is 18% more than the national average.
| Percent | |
|---|---|
| Renter Occupied Households | 38% |
| New Construction (Built after 2000) | 14% |
Demographics
The median age in Franklin is 40. The age of the general population in Franklin is comparable with with the national average.
Franklin ranks in the highest of the nation for having an educated population with more college graduates per resident than most areas.
Housing Data
Housing Comparison
| Franklin | Massachusetts | USA | |
| Median Property Value | 403,000 | 385,400 | 217,600 |
| Median Mortgage Payment | 2,378 | 2,108 | 1,513 |
| Median Gross Rent | 1,190 | 1,208 | 1,012 |
| Property Vacancy | 2.9% | 10.0% | 12.6% |
| % Renters | 19% | 38% | 36% |
| Residents per Sq. Mi. | 1,233 | 885 | 93 |
Personal Comparison
| Franklin | Massachusetts | USA | |
| Median Household Income | 111,935 | 77,385 | 60,336 |
| Median Individual Income | 55,480 | 41,700 | 33,646 |
| Median Income (Full-Time) | 74,987 | 60,923 | 46,881 |
| Median Age | 40.0 | 39.5 | 38.1 |
| Labor Participation | 71.3% | 67.8% | 62.8% |
| Attained College Degree | 56.0% | 43.4% | 32.0% |
Population Density Analysis
Franklin, MA
1,233
Residents per Sq. Mile
The population density of Franklin is comparable to that of a Suburban Area.
Major City
10,000 Residents +
Mid-Sized City
5,000 Residents +
Small City
2,500 Residents +
Suburban
500 Residents +
Rural
100 Residents +
Remote
1 Residents +