Franklin, KY
Population 10,254 · Kentucky
About Franklin, KY
Franklin is a mid-sized city located in Kentucky with a population of 10,254 residents according to the latest US Census Bureau American Community Survey data. The median household income is $55,552 per year, which is 26% below the national median of $75,149. The median age of 34.4 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 $170,400, which is 30% 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 $1,034, 11% below the national average of $1,163/month. Of the 3,969 total housing units, 53% are owner-occupied (1,949 units) and 47% are renter-occupied (1,713 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 5.5%, which is near the national rate of 3.7%. The poverty rate stands at 17.4%, above the national average of 12.4%. Workers in Franklin have an average one-way commute time of 18.9 minutes, one of the shorter commutes in the region.
Education & Demographics
13.4% of Franklin 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 3.5% White, 4.9% Hispanic or Latino, 0.0% Black or African American, and 1.4% Asian residents, with 1.6% of the population being foreign-born.
How Franklin Ranks in Kentucky
Cost of Living in Franklin, KY
Compared to national averages, Franklin has a median household income of $55,552 (26% below the national median of $75,149). Home values average $170,400, which is 30% below the national median. Monthly rent at $1,034 is 11% below the US average of $1,163. Within Kentucky, Franklin's income is 16% below the state average of $66,273, and home values are 7% below the state median of $182,504.
Why Live in Franklin, KY?
Franklin offers affordable housing with a median home value of $170,400, below the US average of $244,900, and rent that’s lower than the national average at $1,034/month, and short commute times averaging just 18.9 minutes.
Potential considerations include median household income ($55,552) that falls below the national average. However, Franklin’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Franklin has a population of 10,254 with a median age of 34.4 years. Compare Franklin with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Franklin
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Francisville | 10,313 | $146,280 | $374,100 | Compare |
| La Grange | 10,188 | $86,222 | $268,000 | Compare |
| Versailles | 10,382 | $58,834 | $257,600 | Compare |
| Paris | 10,107 | $49,464 | $182,100 | Compare |
| Alexandria | 10,430 | $103,750 | $253,400 | Compare |
| Mayfield | 9,905 | $41,458 | $114,400 | Compare |
| Middletown | 9,622 | $74,129 | $298,900 | Compare |
| Lyndon | 10,956 | $65,392 | $273,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Kentucky
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, KY?
The population of Franklin, KY is 10,254 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Kentucky.
What is the median household income in Franklin?
The median household income in Franklin, KY is $55,552 per year, which is 26% below the national median of $75,149.
What is the median home value in Franklin?
The median home value in Franklin, KY is $170,400, which is 30% 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, KY is $1,034, which is 11% below the national average of $1,163/month.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin, KY is 5.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin, KY a good place to live?
Franklin offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 10,254 and a median age of 34.4, the city appeals to young professionals and families.
How educated is Franklin, KY?
13.4% 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, KY: median home value is $170,400 (30% below national), median rent is $1,034/month, and median household income is $55,552. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Franklin?
The poverty rate in Franklin, KY is 17.4%, 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, KY?
Franklin's population is 3.5% White, 4.9% Hispanic or Latino, 0.0% Black or African American, 1.4% Asian, and 8.8% two or more races. 1.6% of residents are foreign-born.