Living in Franklin, New York
Cost of living, income, home prices, rent and demographics of Franklin · Census data 2020–2024
Franklin has 424 residents with a median age of 40.5. The median household income is $81,912 (5% lower than the New York median), the median home value is $202,300, the median rent is $763/month.
Franklin is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Franklin at a glance
- Population
- 424
- Median age
- 40.5State: 39.8
- Median household income
- $81,912State: $85,974
- Median home value
- $202,300State: $423,800
- Median rent
- $763/moState: $1,621
- Homeowners
- 56.4%
- Bachelor's degree or higher
- 36.4%
- Average commute
- 28 min
Is Franklin a good place to live?
Pros: Home values 52% lower than the state median; an average commute of 28 minutes; a poverty rate of 10.8%.
Cons: Median household income 5% lower than the New York median; unemployment of 7.8%.
The weather is best in June to September.
Cost of living in Franklin
Housing is the biggest part of the cost of living. In Franklin the median home value is $202,300, 39% lower than the U.S. median. Renters pay a median of $763 per month, which is 17.8% of household income. Homeowners with a mortgage pay $1,668 a month in housing costs.
Franklin median household income
The median household income in Franklin is $81,912 and the income per person is $53,279. 10.8% of residents live below the poverty line (New York: 14%).
Housing in Franklin: homes for sale and rent
- Housing units
- 245
- Owner-occupied
- 56.4%
- Renter-occupied
- 43.6%
- Vacant
- 16.7%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 2.08
Franklin demographics
- Population
- 424
- Median age
- 40.5
- Under 18
- 15.8%
- 65 and older
- 20%
- Households
- 204
- Foreign-born
- 9%
- Veterans
- 5.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Franklin ›
Education in Franklin
36.4% of adults 25 and older in Franklin have a bachelor's degree or higher (New York: 40.2%), and 22.7% have a graduate or professional degree.
Jobs and commute in Franklin
- Unemployment rate
- 7.8%State: 6.4%
- Average commute
- 28 minState: 33 min
- Work from home
- 24.2%
- Drive alone
- 57.5%
- Public transit
- 3.8%
- Walk to work
- 7.9%
- Homes with broadband
- 85.8%
Franklin vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Franklin | 424 | $81,912 | $202,300 | $763 |
| Otego | 936 | $78,804 | $186,100 | $956 |
| Wells Bridge | 160 | $71,667 | $234,400 | — |
| Unadilla | 1,419 | $65,972 | $110,800 | $924 |
| Oneonta | 15,045 | $61,111 | $184,100 | $1,021 |
| West End | 1,891 | $71,563 | $151,100 | $1,157 |
| Gilbertsville | 321 | $81,500 | $165,000 | $1,141 |
| Walton | 2,423 | $34,676 | $119,400 | $771 |
| Sidney | 3,931 | $50,208 | $120,700 | $902 |
More for people moving to Franklin
Franklin ZIP code ›Weather and climate ›Living in Franklin: FAQ
What is the median household income in Franklin, NY?
The median household income in Franklin is $81,912, 5% lower than the New York median of $85,974 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Franklin?
The median home value in Franklin is $202,300, compared with $423,800 in New York.
How much is rent in Franklin?
The median gross rent in Franklin is $763 per month, about 17.8% of household income.
Is Franklin, NY a good place to live?
Pluses: home values 52% lower than the state median; an average commute of 28 minutes; a poverty rate of 10.8%. Minuses: median household income 5% lower than the New York median; unemployment of 7.8%.
What is the median age in Franklin?
The median age in Franklin is 40.5 years (New York: 39.8).
How long is the commute in Franklin?
The average commute to work in Franklin is 28 minutes; 24.2% of workers work from home.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin is 7.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Franklin?
36.4% of adults in 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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