The Village of Franklin had a population of 3,349 as of July 1, 2020. Franklin ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Michigan. See peer rankings below.
The primary coordinate point for Franklin is located at latitude 42.5223 and longitude -83.306 in Oakland County. The formal boundaries for the Village of Franklin encompass a land area of 2.66 sq. miles and a water area of 0 sq. miles. Oakland County is in the Eastern time zone (GMT -5). The elevation is 837 feet.
The Village of Franklin (GNIS ID: 2398917) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.
Alternate Unofficial Names for Franklin: Franklin Village.
|Total Population||3,349 (100%)|
|Population in Households||3,349 (100.0%)|
|Population in Families||3,016 (90.1%)|
|Population in Group Quarters1||0|
|Median Household Income||$165,959|
|Average Household Income||$241,235|
|% of Income for Mortgage4||15%|
|Per Capita Income||$85,826|
|Total HU (Housing Units)||1,234 (100%)|
|Owner Occupied HU||1,126 (91.2%)|
|Renter Occupied HU||65 ( 5.3%)|
|Vacant Housing Units||44 ( 3.6%)|
|Median Home Value||$604,530|
|Average Home Value||$715,941|
|Housing Affordability Index3||137|
|Average Household Size||2.81|
|Average Family Size||3|
GROWTH RATE / YEAR
|Median Household Income||1.15%|
|Per Capita Income||1.46%|
|Owner Occupied HU||0.53%|
The table below compares Franklin to the other 692 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
|Total Population||# 226||67th|
|Population Density||# 268||61st|
|Median Household Income||# 4||100th|
|Housing Affordability Index||# 47||7th|
|Per Capita Income||# 3||100th|
|Diversity Index||# 126||82nd|
Additional comparisons and rankings can be made with a VERY EASY TO USE Michigan Census Data Comparison Tool.