Franklin, NC Profile: Facts & Data

Franklin, North Carolina - Basic Facts

The Town of Franklin had a population of 4,324 as of July 1, 2024.

The primary coordinate point for Franklin is located at latitude 35.1823 and longitude -83.3815 in Macon County. The formal boundaries for the Town of Franklin encompass a land area of 4.85 sq. miles and a water area of 0.09 sq. miles. Macon County is in the Eastern time zone (GMT -5).

The Town of Franklin 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.

The Town of Franklin is located within Township of Franklin, a minor civil division (MCD) of Macon County.

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

POPULATION
Total Population	4,324 (100%)
Population in Households	4,305 (99.6%)
Population in Families	3,140 (72.6%)
Population in Group Quarters¹	19 ( 0.4%)
Population Density	875
Diversity Index²	55


INCOME
Median Household Income	$48,444
Average Household Income	$78,767
% of Income for Mortgage⁴	29%
Per Capita Income	$36,222
Wealth Index⁵	65
Socioeconomic Status Index⁶	Moderate (46.0)

HOUSING
Total HU (Housing Units)	2,367 (100%)
Owner Occupied HU	1,187 (50.1%)
Renter Occupied HU	801 (33.8%)
Vacant Housing Units	379 (16.0%)
Median Home Value	$227,222
Average Home Value	$265,396
Housing Affordability Index³	89

HOUSEHOLDS
Total Households	1,988
Average Household Size	2.17
Family Households	1,116
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

2,367 (100%)

Owner Occupied HU

1,187 (50.1%)

Renter Occupied HU

801 (33.8%)

Vacant Housing Units

379 (16.0%)

Median Home Value

$227,222

Average Home Value

$265,396

Housing Affordability Index³

HOUSEHOLDS

Total Households

1,988

Average Household Size

2.17

Family Households

1,116

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	0.83%	0.35%
Households	0.88%	0.67%
Families		0.64%
Median Household Income		2.17%
Per Capita Income		2.70%
Owner Occupied HU		1.69%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

0.83%

0.35%

Households

0.88%

0.67%

Families

0.64%

Median Household Income

2.17%

Per Capita Income

2.70%

Owner Occupied HU

1.69%

Franklin, NC - Peer Comparisons by Rank and Percentile

The table below compares Franklin to the other 777 incorporated cities, towns and CDPs in North Carolina 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	# 200	74th
Population Density	# 275	65th
Median Household Income	# 585	25th
Housing Affordability Index	# 263	34th
Per Capita Income	# 284	64th
Diversity Index	# 383	51st

Variable Description

Rank

Percentile

Total Population

# 200

74th

Population Density

# 275

65th

Median Household Income

# 585

25th

Housing Affordability Index

# 263

34th

Per Capita Income

# 284

64th

Diversity Index

# 383

51st

North Carolina Census Data Comparison Tool

Franklin, NC Profile: Facts & Data

Franklin, North Carolina - Basic Facts

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

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Franklin, NC - Peer Comparisons by Rank and Percentile

Franklin, NC - Most Popular Things to Do

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