Franklin

Population: 2,610
Median household income: $176,571
Median home value: $696,700

Franklin, a community in Oakland County, Michigan, has 2,610 residents. At $176,571, its median household income sits above Oakland County's $95,296.

Between 2019 and 2023, Franklin's population declined 21.1% from 3,310 to 2,610, while its median home value rose 13.9% from $611,900 to $696,700.

2.3% of residents live below the poverty line. Households average 2.46 people.

Demographics

ACS 2019–2023

Population: 2,610
Median age: 49.6 yrs
Median household income: $176,571
Median home value: $696,700
Median gross rent: $3,175
Housing units: 1,100
Homeownership rate: 94.9%
Bachelor's degree or higher: 80.3%
Unemployment rate: 1.9%

Trends

ACS 5-year · 2019–2023

Population

3,3102,610

Median household income

$161,607$176,571

Median home value

$611,900$696,700

Median gross rent

$2,659$3,175

Year	Population	Median household income	Median home value	Median gross rent
2019	3,310	$161,607	$611,900	$2,659
2020	2,877	$158,958	$595,400	$2,740
2021	2,790	$155,703	$612,900	$3,354
2022	2,653	$178,167	$710,700	$3,343
2023	2,610	$176,571	$696,700	$3,175

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 57.0%

5 to 1713.1%

18 to 246.1%

25 to 348.0%

35 to 4410.5%

45 to 5411.7%

55 to 6417.8%

65 to 7413.2%

75 and over12.6%

	Count	Share
Under 5	183	7.0%
5 to 17	342	13.1%
18 to 24	158	6.1%
25 to 34	209	8.0%
35 to 44	273	10.5%
45 to 54	306	11.7%
55 to 64	465	17.8%
65 to 74	344	13.2%
75 and over	330	12.6%

Race & ethnicity

	Count	Share
White (non-Hispanic)	1,863	71.4%
Black or African American	343	13.1%
American Indian & Alaska Native	2	0.1%
Asian	120	4.6%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	0	0.0%
Two or more races	106	4.1%
Hispanic or Latino (any race)	176	6.7%

Educational attainment (age 25+)

No high school diploma2.2%

High school graduate4.1%

Some college or associate's13.4%

Bachelor's degree34.3%

Graduate or professional degree46.0%

	Count	Share
No high school diploma	42	2.2%
High school graduate	79	4.1%
Some college or associate's	259	13.4%
Bachelor's degree	661	34.3%
Graduate or professional degree	886	46.0%

Commute to work

Mean travel time to work: 24 min

Drove alone70.7%

Carpooled2.2%

Public transit0.0%

Walked2.2%

Bicycle0.0%

Worked from home24.5%

Other means0.4%

How workers get to work

	Count	Share
Drove alone	911	70.7%
Carpooled	29	2.2%
Public transit	0	0.0%
Walked	28	2.2%
Bicycle	0	0.0%
Worked from home	316	24.5%
Other means	5	0.4%

Travel time

	Count	Share
Under 15 min	298	30.6%
15 to 29 min	405	41.6%
30 to 44 min	190	19.5%
45 to 59 min	29	3.0%
60+ min	51	5.2%

Households

Average household size: 2.46
Poverty rate: 2.3% (59 of 2,610)

	Count	Share
Family households	830	78.2%
Nonfamily households	231	21.8%

Housing

Median year structure built: 1958

Occupancy

	Count	Share
Occupied	1,061	96.5%
Vacant	39	3.5%

Tenure (of occupied units)

	Count	Share
Owner-occupied	1,007	94.9%
Renter-occupied	54	5.1%

1-unit, detached100.0%

1-unit, attached0.0%

2 to 4 units0.0%

5 to 19 units0.0%

20 or more units0.0%

Mobile home & other0.0%

Units in structure

	Count	Share
1-unit, detached	1,100	100.0%
1-unit, attached	0	0.0%
2 to 4 units	0	0.0%
5 to 19 units	0	0.0%
20 or more units	0	0.0%
Mobile home & other	0	0.0%

Geography

Place GEOID: 2630340
Type (LSAD): 47
Land area: 2.66 sq mi
Water area: 0 sq mi
Center point: 42.5188, -83.3030