Frankton, IN
Population 1,789 · Indiana
About Frankton, IN
Frankton is a small town located in Indiana with a population of 1,789 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,500 per year, which is 14% below the national median of $75,149. The median age of 39.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Frankton features a median home value of $120,200, which is 51% below the national median of $244,900. This makes Frankton one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,000, 14% below the national average of $1,163/month. Of the 760 total housing units, 80% are owner-occupied (536 units) and 20% are renter-occupied (138 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Frankton shows an unemployment rate of 4.2%, which is near the national rate of 3.7%. The poverty rate stands at 11.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Frankton have an average one-way commute time of 31.5 minutes.
Education & Demographics
12.8% of Frankton residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.7% White, 0.0% Hispanic or Latino, 1.3% Black or African American, and 0.1% Asian residents, with 2.2% of the population being foreign-born.
Cost of Living in Frankton, IN
Compared to national averages, Frankton has a median household income of $64,500 (14% below the national median of $75,149). Home values average $120,200, which is 51% below the national median. Monthly rent at $1,000 is 14% below the US average of $1,163. Within Indiana, Frankton's income is 7% below the state average of $69,330, and home values are 26% below the state median of $163,409.
Why Live in Frankton, IN?
Frankton offers affordable housing with a median home value of $120,200, below the US average of $244,900, and rent that’s lower than the national average at $1,000/month, and a low poverty rate of 11.0%, better than the national average.
Potential considerations include median household income ($64,500) that falls below the national average. However, Frankton’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Frankton has a population of 1,789 with a median age of 39.5 years. Compare Frankton with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Frankton
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| French Lick | 1,790 | $54,412 | $79,600 | Compare |
| Milan | 1,775 | $54,688 | $136,400 | Compare |
| Henryville | 1,804 | $77,440 | $190,200 | Compare |
| Ardmore | 1,807 | $45,709 | $113,300 | Compare |
| Dillsboro | 1,809 | $46,591 | $137,700 | Compare |
| Monon | 1,764 | $52,569 | $84,600 | Compare |
| Bourbon | 1,816 | $71,375 | $156,800 | Compare |
| Aberdeen | 1,761 | $97,344 | $344,500 | 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 Frankton With Other Cities
Frequently Asked Questions about Frankton
What is the population of Frankton, IN?
The population of Frankton, IN is 1,789 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Frankton?
The median household income in Frankton, IN is $64,500 per year, which is 14% below the national median of $75,149.
What is the median home value in Frankton?
The median home value in Frankton, IN is $120,200, which is 51% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Frankton?
The median monthly rent in Frankton, IN is $1,000, which is 14% below the national average of $1,163/month.
What is the unemployment rate in Frankton?
The unemployment rate in Frankton, IN is 4.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Frankton, IN a good place to live?
Frankton offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,789 and a median age of 39.5, the city appeals to a broad range of residents.
How educated is Frankton, IN?
12.8% of residents in Frankton 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 Frankton?
Key cost-of-living indicators for Frankton, IN: median home value is $120,200 (51% below national), median rent is $1,000/month, and median household income is $64,500. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Frankton?
The poverty rate in Frankton, IN is 11.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Frankton, IN?
Frankton's population is 2.7% White, 0.0% Hispanic or Latino, 1.3% Black or African American, 0.1% Asian, and 0.0% two or more races. 2.2% of residents are foreign-born.