Franklin, IN
Population 25,999 · Indiana
About Franklin, IN
Franklin is a mid-sized city located in Indiana with a population of 25,999 residents according to the latest US Census Bureau American Community Survey data. The median household income is $77,305 per year, which is 3% above the national median of $75,149. The median age of 34 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Franklin features a median home value of $212,500, which is 13% below the national median of $244,900. This positions Franklin in a moderately priced market relative to the rest of the country. Median monthly rent is $1,127, 3% below the national average of $1,163/month. Of the 9,924 total housing units, 66% are owner-occupied (6,165 units) and 34% are renter-occupied (3,121 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Franklin shows an unemployment rate of 3.9%, which is near the national rate of 3.7%. The poverty rate stands at 11.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Franklin have an average one-way commute time of 24.4 minutes.
Education & Demographics
24.6% 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 1.1% White, 0.5% Hispanic or Latino, 0.4% Black or African American, and 0.8% Asian residents, with 2.2% of the population being foreign-born.
How Franklin Ranks in Indiana
Cost of Living in Franklin, IN
Compared to national averages, Franklin has a median household income of $77,305 (3% above the national median of $75,149). Home values average $212,500, which is 13% below the national median. Monthly rent at $1,127 is 3% below the US average of $1,163. Within Indiana, Franklin's income is 12% above the state average of $69,330, and home values are 30% above the state median of $163,409.
Why Live in Franklin, IN?
Franklin offers a strong local economy with a median household income of $77,305, well above the national average, and affordable housing with a median home value of $212,500, below the US average of $244,900, and rent that’s lower than the national average at $1,127/month. Additionally, the city features a low poverty rate of 11.3%, better than the national average, and short commute times averaging just 24.4 minutes.
Franklin has a population of 25,999 with a median age of 34 years. Compare Franklin with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Franklin
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| East Chicago | 26,158 | $41,071 | $92,400 | Compare |
| Greenfield | 24,308 | $74,949 | $205,800 | Compare |
| Munster | 23,733 | $105,764 | $312,000 | Compare |
| Avon | 22,683 | $97,589 | $300,600 | Compare |
| Schererville | 29,627 | $86,020 | $294,600 | Compare |
| Hobart | 29,646 | $71,680 | $203,400 | Compare |
| La Porte | 22,125 | $59,862 | $143,800 | Compare |
| Clarksville | 22,121 | $58,518 | $172,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Franklin With Other Cities
Frequently Asked Questions about Franklin
What is the population of Franklin, IN?
The population of Franklin, IN is 25,999 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Indiana.
What is the median household income in Franklin?
The median household income in Franklin, IN is $77,305 per year, which is 3% above the national median of $75,149.
What is the median home value in Franklin?
The median home value in Franklin, IN is $212,500, which is 13% 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, IN is $1,127, which is 3% below the national average of $1,163/month.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin, IN is 3.9%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin, IN a good place to live?
Franklin offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 25,999 and a median age of 34, the city appeals to young professionals and families.
How educated is Franklin, IN?
24.6% of residents in Franklin aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Franklin?
Key cost-of-living indicators for Franklin, IN: median home value is $212,500 (13% below national), median rent is $1,127/month, and median household income is $77,305. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Franklin?
The poverty rate in Franklin, IN is 11.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Franklin, IN?
Franklin's population is 1.1% White, 0.5% Hispanic or Latino, 0.4% Black or African American, 0.8% Asian, and 2.6% two or more races. 2.2% of residents are foreign-born.