Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 48.6 yrs |
|---|---|
| Avg HH Size | 2.63 |
| Below Poverty | 5.0% ▼ 51% below avg |
| College Grads | 80.2% ▲ 107% above avg |
| Unemployment | 2.0% ▼ 60% below avg |
| No HS Diploma | 61 (0.6%) |
| HS Graduate | 606 (6%) |
| Some College | 365 (3.6%) |
| Associates | 968 (9.6%) |
| Bachelors | 494 (4.9%) |
| Graduate Degree | 7,616 (75.3%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $177,126 ▲ 132% above avg |
|---|---|
| Median Home Value | $514,500 ▲ 85% above avg |
| Home/Income Ratio | 2.9x (nat avg ~3.5x) |
| Median Rent | $2,397/mo |
| Total Housing Units | 5,866 |
| Vacant Units | 298 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Franklin is a city in Michigan, located in Oakland County. The city spans 1 ZIP code and is home to approximately 14,755 residents. It is a mature city, with a median age of 48.6 years.
Economically, Franklin is a affluent community. The median household income of $177,126 is more than double the national average. Approximately 5.0% of residents live below the poverty line. The unemployment rate is 2.0%, well below the national average.
The real estate market in Franklin is a premium housing market. Median home values stand at $514,500, which is significantly above the national average. Renters typically pay around $2,397 per month. Homeownership is high at 94.3%, typical of suburban and family-oriented communities.
The population of Franklin is highly educated. 80.2% of adults hold a bachelor's degree or higher — more than double the national average. The community is primarily White (78.98%).
Franklin, MI offers residents above-average earning potential within Michigan.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 48025 | 14,755 | $177,126 | $514,500 | $2,397 | 2.0% | 80.2% | 94.3% |