Living in New Franklin, Missouri
Cost of living, income, home prices, rent and demographics of New Franklin · Census data 2020–2024
New Franklin has 1,170 residents with a median age of 39.4. The median household income is $55,066 (22% lower than the Missouri median), the median home value is $139,500, the median rent is $679/month.
New Franklin is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
New Franklin at a glance
- Population
- 1,170
- Median age
- 39.4State: 39
- Median household income
- $55,066State: $70,702
- Median home value
- $139,500State: $230,300
- Median rent
- $679/moState: $1,033
- Homeowners
- 67.8%
- Bachelor's degree or higher
- 20.3%
- Average commute
- 31 min
Is New Franklin a good place to live?
Pros: Home values 39% lower than the state median; unemployment of 2.5%.
Cons: Median household income 22% lower than the Missouri median; an average commute of 31 minutes; a poverty rate of 16%.
The weather is best in May–June and August–September.
Cost of living in New Franklin
Housing is the biggest part of the cost of living. In New Franklin the median home value is $139,500, 58% lower than the U.S. median. Renters pay a median of $679 per month, which is 23.8% of household income. Homeowners with a mortgage pay $941 a month in housing costs.
New Franklin median household income
The median household income in New Franklin is $55,066 and the income per person is $29,760. 16% of residents live below the poverty line (Missouri: 12.6%).
Housing in New Franklin: homes for sale and rent
- Housing units
- 522
- Owner-occupied
- 67.8%
- Renter-occupied
- 32.2%
- Vacant
- 14.4%Includes seasonal homes
- Median year built
- 1967
- Average household size
- 2.62
New Franklin demographics
- Population
- 1,170
- Median age
- 39.4
- Under 18
- 24.6%
- 65 and older
- 19.7%
- Households
- 447
- Foreign-born
- 0%
- Veterans
- 5%Adults 18+
Hispanic or Latino can be of any race. Population history of New Franklin ›
Education in New Franklin
20.3% of adults 25 and older in New Franklin have a bachelor's degree or higher (Missouri: 32.4%), and 4.4% have a graduate or professional degree.
Jobs and commute in New Franklin
- Unemployment rate
- 2.5%State: 4%
- Average commute
- 31 minState: 24 min
- Work from home
- 12.1%
- Drive alone
- 75.1%
- Public transit
- 0%
- Walk to work
- 0.8%
- Homes with broadband
- 83.7%
New Franklin vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Franklin | 1,170 | $55,066 | $139,500 | $679 |
| Boonville | 7,689 | $56,429 | $187,900 | $767 |
| Windsor Place | 405 | $99,375 | $235,800 | $1,000 |
| Fayette | 2,801 | $57,679 | $146,700 | $947 |
| Rocheport | 231 | $57,083 | $223,300 | $989 |
| Pilot Grove | 744 | $73,977 | $133,000 | $717 |
| Blackwater | 207 | $66,389 | $123,600 | $938 |
| Glasgow | 1,118 | $50,446 | $122,600 | $446 |
| Bunceton | 256 | $43,500 | $82,500 | $650 |
More for people moving to New Franklin
New Franklin ZIP code ›Weather and climate ›Living in New Franklin: FAQ
What is the median household income in New Franklin, MO?
The median household income in New Franklin is $55,066, 22% lower than the Missouri median of $70,702 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in New Franklin?
The median home value in New Franklin is $139,500, compared with $230,300 in Missouri.
How much is rent in New Franklin?
The median gross rent in New Franklin is $679 per month, about 23.8% of household income.
Is New Franklin, MO a good place to live?
Pluses: home values 39% lower than the state median; unemployment of 2.5%. Minuses: median household income 22% lower than the Missouri median; an average commute of 31 minutes; a poverty rate of 16%.
What is the median age in New Franklin?
The median age in New Franklin is 39.4 years (Missouri: 39).
How long is the commute in New Franklin?
The average commute to work in New Franklin is 31 minutes; 12.1% of workers work from home.
What is the unemployment rate in New Franklin?
The unemployment rate in New Franklin is 2.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Franklin?
20.3% of adults in New Franklin have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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