Franklin, AL
Population 899 · Alabama
About Franklin, AL
Franklin is a small community located in Alabama with a population of 899 residents according to the latest US Census Bureau American Community Survey data. The median household income is $83,480 per year, which is 11% above the national median of $75,149. The median age of 47.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Franklin features a median home value of $75,300, which is 69% below the national median of $244,900. This makes Franklin one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $731, 37% below the national average of $1,163/month. Of the 484 total housing units, 85% are owner-occupied (316 units) and 15% are renter-occupied (57 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Franklin shows an unemployment rate of 23.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 15.9%, above the national average of 12.4%. Workers in Franklin have an average one-way commute time of 20.9 minutes.
Education & Demographics
36.0% of Franklin residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 2.6% White, 12.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Franklin Ranks in Alabama
Cost of Living in Franklin, AL
Compared to national averages, Franklin has a median household income of $83,480 (11% above the national median of $75,149). Home values average $75,300, which is 69% below the national median. Monthly rent at $731 is 37% below the US average of $1,163. Within Alabama, Franklin's income is 44% above the state average of $57,952, and home values are 53% below the state median of $159,358.
Why Live in Franklin, AL?
Franklin offers a strong local economy with a median household income of $83,480, well above the national average, and affordable housing with a median home value of $75,300, below the US average of $244,900, and rent that’s lower than the national average at $731/month. Additionally, the city features a well-educated community where 36.0% of residents hold a bachelor’s degree or higher, and short commute times averaging just 20.9 minutes.
Franklin has a population of 899 with a median age of 47.9 years. Compare Franklin with other cities to see how it stacks up, or explore all cities in Alabama.
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Demographics
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Economy & Education
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Other Cities in Alabama
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Franklin
What is the population of Franklin, AL?
The population of Franklin, AL is 899 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Alabama.
What is the median household income in Franklin?
The median household income in Franklin, AL is $83,480 per year, which is 11% above the national median of $75,149.
What is the median home value in Franklin?
The median home value in Franklin, AL is $75,300, which is 69% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Franklin?
The median monthly rent in Franklin, AL is $731, which is 37% below the national average of $1,163/month.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin, AL is 23.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin, AL a good place to live?
Franklin offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 899 and a median age of 47.9, the city appeals to established professionals and retirees.
How educated is Franklin, AL?
36.0% of residents in Franklin aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Franklin?
Key cost-of-living indicators for Franklin, AL: median home value is $75,300 (69% below national), median rent is $731/month, and median household income is $83,480. The home-value-to-income ratio is 0.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Franklin?
The poverty rate in Franklin, AL is 15.9%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Franklin, AL?
Franklin's population is 2.6% White, 12.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 65.2% two or more races. 0.0% of residents are foreign-born.