Franklin Town city, MA Profile: Facts & Data

The primary coordinate point for Franklin Town city is located at latitude 42.0862 and longitude -71.4113 in Norfolk County. The formal boundaries for the City of Franklin Town encompass a land area of 26.63 sq. miles and a water area of 0.4 sq. miles.

The City of Franklin Town (GNIS ID: 618321) has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves 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 Town city: City of Franklin, Town of Franklin.

Franklin Town city, MA Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	34,737 (100%)
Population in Households	33,891 (97.6%)
Population in Families	29,844 (85.9%)
Population in Group Quarters¹	846 ( 2.4%)
Population Density	1,304
Diversity Index²	27


INCOME
Median Household Income	$123,587
Average Household Income	$158,612
% of Income for Mortgage⁴	16%
Per Capita Income	$54,819
Wealth Index⁵	221

HOUSING
Total HU (Housing Units)	12,319 (100%)
Owner Occupied HU	9,255 (75.1%)
Renter Occupied HU	2,740 (22.2%)
Vacant Housing Units	324 ( 2.6%)
Median Home Value	$481,184
Average Home Value	$517,836
Housing Affordability Index³	134

HOUSEHOLDS
Total Households	11,995
Average Household Size	2.83
Family Households	8,936
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Franklin Town city, MA - Peer Comparisons by Rank and Percentile

The table below compares Franklin Town city to the other 245 incorporated cities, towns and CDPs in Massachusetts 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.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.92%	1.0%
Households	0.85%	0.94%
Families	0.8%	0.93%
Median Household Income		1.99%
Per Capita Income		2.18%
Owner Occupied HU		0.72%

Variable Description	Rank	Percentile
Total Population	# 42	83rd
Population Density	# 129	48th
Median Household Income	# 25	90th
Housing Affordability Index	# 195	80th
Per Capita Income	# 56	78th
Diversity Index	# 114	54th

Franklin Town city, MA Profile: Facts & Data

Franklin Town city, Massachusetts - Basic Facts

Franklin Town city, MA Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Franklin Town city, MA - Peer Comparisons by Rank and Percentile

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