Living in Franklin, Pennsylvania
Cost of living, income, home prices, rent and demographics of Franklin · Census data 2020–2024
Franklin has 710 residents with a median age of 56.4. The median household income is $72,250 (7% lower than the Pennsylvania median), the median home value is $197,500, the median rent is $1,066/month.
Franklin is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Franklin at a glance
- Population
- 710
- Median age
- 56.4State: 40.9
- Median household income
- $72,250State: $77,971
- Median home value
- $197,500State: $254,500
- Median rent
- $1,066/moState: $1,209
- Homeowners
- 82.6%
- Bachelor's degree or higher
- 14%
- Average commute
- 31 min
Is Franklin a good place to live?
Pros: Home values 22% lower than the state median; a poverty rate of 8.5%.
Cons: Median household income 7% lower than the Pennsylvania median; an average commute of 31 minutes; unemployment of 6.1%.
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 $197,500, 41% lower than the U.S. median. Renters pay a median of $1,066 per month, which is 30% of household income. Homeowners with a mortgage pay $1,250 a month in housing costs.
Franklin median household income
The median household income in Franklin is $72,250 and the income per person is $38,365. 8.5% of residents live below the poverty line (Pennsylvania: 11.7%).
Housing in Franklin: homes for sale and rent
- Housing units
- 437
- Owner-occupied
- 82.6%
- Renter-occupied
- 17.4%
- Vacant
- 34.3%Includes seasonal homes
- Median year built
- 1974
- Average household size
- 2.47
34.3% of homes are vacant most of the year, a sign that Franklin has many vacation and second homes.
Franklin demographics
- Population
- 710
- Median age
- 56.4
- Under 18
- 10.1%
- 65 and older
- 33.7%
- Households
- 287
- Foreign-born
- 2.8%
- Veterans
- 9.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Franklin ›
Education in Franklin
14% of adults 25 and older in Franklin have a bachelor's degree or higher (Pennsylvania: 35.2%), and 6.6% have a graduate or professional degree.
Jobs and commute in Franklin
- Unemployment rate
- 6.1%State: 5.3%
- Average commute
- 31 minState: 26 min
- Work from home
- 9.6%
- Drive alone
- 77.4%
- Public transit
- 0%
- Walk to work
- 2.9%
- Homes with broadband
- 87.5%
Franklin vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Franklin | 710 | $72,250 | $197,500 | $1,066 |
| Bridgewater | 2,618 | $65,625 | $272,200 | $938 |
| Liberty | 1,137 | $73,077 | $229,900 | $1,125 |
| Montrose | 1,512 | $53,269 | $168,400 | $854 |
| New Milford | 748 | $56,875 | $159,900 | $850 |
| Hallstead | 1,217 | $50,833 | $128,200 | $888 |
| Laurel Lake | 144 | $101,500 | $189,600 | — |
| Great Bend | 581 | $46,071 | $160,900 | $702 |
| Silver Lake | 1,691 | $87,083 | $280,200 | $978 |
More for people moving to Franklin
Franklin ZIP code ›Weather and climate ›Living in Franklin: FAQ
What is the median household income in Franklin, PA?
The median household income in Franklin is $72,250, 7% lower than the Pennsylvania median of $77,971 (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 $197,500, compared with $254,500 in Pennsylvania.
How much is rent in Franklin?
The median gross rent in Franklin is $1,066 per month, about 30% of household income.
Is Franklin, PA a good place to live?
Pluses: home values 22% lower than the state median; a poverty rate of 8.5%. Minuses: median household income 7% lower than the Pennsylvania median; an average commute of 31 minutes; unemployment of 6.1%.
What is the median age in Franklin?
The median age in Franklin is 56.4 years (Pennsylvania: 40.9).
How long is the commute in Franklin?
The average commute to work in Franklin is 31 minutes; 9.6% of workers work from home.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin is 6.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Franklin?
14% 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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