Living in Franklin, Tennessee
Cost of living, income, home prices, rent and demographics of Franklin · Census data 2020–2024
Franklin has 87,133 residents with a median age of 38.6. The median household income is $119,528 (72% higher than the Tennessee median), the median home value is $705,400, the median rent is $1,923/month.
Franklin at a glance
- Population
- 87,133
- Median age
- 38.6State: 38.9
- Median household income
- $119,528State: $69,595
- Median home value
- $705,400State: $286,700
- Median rent
- $1,923/moState: $1,189
- Homeowners
- 63.8%
- Bachelor's degree or higher
- 64.5%
- Average commute
- 24 min
Is Franklin a good place to live?
Pros: Median household income 72% higher than the Tennessee median; an average commute of 24 minutes; unemployment of 2.2%; a poverty rate of 4.6%.
Cons: Home values 146% higher than the state median.
The weather is best in April–May and September–October.
Cost of living in Franklin
Housing is the biggest part of the cost of living. In Franklin the median home value is $705,400, 112% higher than the U.S. median. Renters pay a median of $1,923 per month, which is 28.7% of household income. Homeowners with a mortgage pay $2,542 a month in housing costs.
Franklin median household income
The median household income in Franklin is $119,528 and the income per person is $61,761. 4.6% of residents live below the poverty line (Tennessee: 13.8%).
Housing in Franklin: homes for sale and rent
- Housing units
- 36,239
- Owner-occupied
- 63.8%
- Renter-occupied
- 36.2%
- Vacant
- 6.2%Includes seasonal homes
- Median year built
- 2002
- Average household size
- 2.54
Franklin demographics
- Population
- 87,133
- Median age
- 38.6
- Under 18
- 23.4%
- 65 and older
- 14.7%
- Households
- 33,998
- Foreign-born
- 11.9%
- Veterans
- 4.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Franklin ›
Education in Franklin
64.5% of adults 25 and older in Franklin have a bachelor's degree or higher (Tennessee: 31.1%), and 24.8% have a graduate or professional degree.
Jobs and commute in Franklin
- Unemployment rate
- 2.2%State: 4.7%
- Average commute
- 24 minState: 26 min
- Work from home
- 30.4%
- Drive alone
- 61.9%
- Public transit
- 0.1%
- Walk to work
- 0.8%
- Homes with broadband
- 96%
Franklin vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Franklin | 87,133 | $119,528 | $705,400 | $1,923 |
| Brentwood | 45,556 | $182,088 | $1,031,300 | $2,825 |
| Thompson's Station | 8,294 | $132,647 | $700,500 | $2,088 |
| Nolensville | 15,074 | $177,148 | $777,800 | $2,454 |
| Forest Hills | 4,683 | $250,001 | $1,413,100 | $3,501 |
| Oak Hill | 4,617 | $215,530 | $1,199,600 | $2,286 |
| Spring Hill | 55,765 | $112,013 | $493,800 | $1,844 |
| Belle Meade | 2,708 | $250,001 | $2,000,001 | $3,501 |
| Berry Hill | 1,980 | $79,591 | $607,000 | $1,733 |
More for people moving to Franklin
Franklin ZIP code ›Weather and climate ›Living in Franklin: FAQ
What is the median household income in Franklin, TN?
The median household income in Franklin is $119,528, 72% higher than the Tennessee median of $69,595 (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 $705,400, compared with $286,700 in Tennessee.
How much is rent in Franklin?
The median gross rent in Franklin is $1,923 per month, about 28.7% of household income.
Is Franklin, TN a good place to live?
Pluses: median household income 72% higher than the Tennessee median; an average commute of 24 minutes; unemployment of 2.2%; a poverty rate of 4.6%. Minuses: home values 146% higher than the state median.
What is the median age in Franklin?
The median age in Franklin is 38.6 years (Tennessee: 38.9).
How long is the commute in Franklin?
The average commute to work in Franklin is 24 minutes; 30.4% of workers work from home.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin is 2.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Franklin?
64.5% 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.
Last updated: