Franklin, MA Profile: Facts & Data

Franklin, Massachusetts - Basic Facts

The City of Franklin Town had a population of 33,532 as of July 1, 2024.

The primary coordinate point for Franklin 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 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.

Jump to... (On This Page!)

Franklin, MA Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	33,532 (100%)
Population in Households	32,338 (96.4%)
Population in Families	27,867 (83.1%)
Population in Group Quarters¹	1,194 ( 3.6%)
Population Density	1,259
Diversity Index²	34


INCOME
Median Household Income	$139,972
Average Household Income	$192,188
% of Income for Mortgage⁴	28%
Per Capita Income	$70,406
Wealth Index⁵	189
Socioeconomic Status Index⁶	Moderate (62.7)

HOUSING
Total HU (Housing Units)	12,800 (100%)
Owner Occupied HU	9,313 (72.8%)
Renter Occupied HU	2,960 (23.1%)
Vacant Housing Units	527 ( 4.1%)
Median Home Value	$634,372
Average Home Value	$674,018
Housing Affordability Index³	85

HOUSEHOLDS
Total Households	12,273
Average Household Size	2.63
Family Households	8,847
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

12,800 (100%)

Owner Occupied HU

9,313 (72.8%)

Renter Occupied HU

2,960 (23.1%)

Vacant Housing Units

527 ( 4.1%)

Median Home Value

$634,372

Average Home Value

$674,018

Housing Affordability Index³

HOUSEHOLDS

Total Households

12,273

Average Household Size

2.63

Family Households

8,847

Average Family Size

3.00

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.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	0.19%	-0.10%
Households	0.50%	0.09%
Families		0.05%
Median Household Income		2.67%
Per Capita Income		2.85%
Owner Occupied HU		0.38%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

0.19%

-0.10%

Households

0.50%

0.09%

Families

0.05%

Median Household Income

2.67%

Per Capita Income

2.85%

Owner Occupied HU

0.38%

Franklin, MA - Peer Comparisons by Rank and Percentile

The table below compares Franklin to the other 248 incorporated cities, towns and CDPs in Massachusetts by rank and percentile using July 1, 2024 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.

Variable Description	Rank	Percentile
Total Population	# 45	82nd
Population Density	# 134	46th
Median Household Income	# 37	85th
Housing Affordability Index	# 214	86th
Per Capita Income	# 67	73rd
Diversity Index	# 119	52nd

Variable Description

Rank

Percentile

Total Population

# 45

82nd

Population Density

# 134

46th

Median Household Income

# 37

85th

Housing Affordability Index

# 214

86th

Per Capita Income

# 67

73rd

Diversity Index

# 119

52nd

Massachusetts Census Data Comparison Tool

Franklin, MA Profile: Facts & Data

Franklin, Massachusetts - Basic Facts

Franklin, MA Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Franklin, MA - Peer Comparisons by Rank and Percentile

Franklin, MA - Most Popular Things to Do

Use HTL Address Research for a Massachusetts Address and get...

Quick & Easy Ways to...

Massachusetts Census Data Comparison Tool

Norfolk County