Franklin Town, MA
Population 33,067 · Massachusetts
About Franklin Town, MA
Franklin Town is a mid-sized city located in Massachusetts with a population of 33,067 residents according to the latest US Census Bureau American Community Survey data. The median household income is $142,788 per year, which is 90% above the national median of $75,149. The median age of 42.1 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 Town features a median home value of $567,100, which is 132% above the national median of $244,900. This places Franklin Town in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,856, 60% above the national average of $1,163/month. Of the 12,889 total housing units, 78% are owner-occupied (9,668 units) and 22% are renter-occupied (2,671 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Franklin Town shows an unemployment rate of 5.1%, which is near the national rate of 3.7%. The poverty rate stands at 5.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Franklin Town have an average one-way commute time of 34.3 minutes.
Education & Demographics
56.4% of Franklin Town residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.7% White, 1.0% Hispanic or Latino, 1.9% Black or African American, and 2.4% Asian residents, with 10.0% of the population being foreign-born.
How Franklin Town Ranks in Massachusetts
Cost of Living in Franklin Town, MA
Compared to national averages, Franklin Town has a median household income of $142,788 (90% above the national median of $75,149). Home values average $567,100, which is 132% above the national median. Monthly rent at $1,856 is 60% above the US average of $1,163. Within Massachusetts, Franklin Town's income is 35% above the state average of $105,630, and home values are 1% above the state median of $561,296.
Why Live in Franklin Town, MA?
Franklin Town offers a strong local economy with a median household income of $142,788, well above the national average, and a well-educated community where 56.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $567,100. However, Franklin Town’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Franklin Town has a population of 33,067 with a median age of 42.1 years. Compare Franklin Town with other cities to see how it stacks up, or explore all cities in Massachusetts.
Similar Cities Near Franklin Town
Cities in Massachusetts with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Needham | 32,059 | $212,241 | $1,146,000 | Compare |
| Lexington | 34,085 | $219,402 | $1,147,900 | Compare |
| Randolph Town | 34,683 | $103,129 | $463,500 | Compare |
| Norwood | 31,380 | $97,110 | $613,500 | Compare |
| Watertown Town | 35,270 | $123,422 | $737,600 | Compare |
| North Attleborough Town | 30,842 | $109,426 | $462,700 | Compare |
| Amherst Town | 35,472 | $65,938 | $454,000 | Compare |
| Wellesley | 29,906 | $250,001 | $1,513,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Massachusetts
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Franklin Town With Other Cities
Frequently Asked Questions about Franklin Town
What is the population of Franklin Town, MA?
The population of Franklin Town, MA is 33,067 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Massachusetts.
What is the median household income in Franklin Town?
The median household income in Franklin Town, MA is $142,788 per year, which is 90% above the national median of $75,149.
What is the median home value in Franklin Town?
The median home value in Franklin Town, MA is $567,100, which is 132% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Franklin Town?
The median monthly rent in Franklin Town, MA is $1,856, which is 60% above the national average of $1,163/month.
What is the unemployment rate in Franklin Town?
The unemployment rate in Franklin Town, MA is 5.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin Town, MA a good place to live?
Franklin Town offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 33,067 and a median age of 42.1, the city appeals to a broad range of residents.
How educated is Franklin Town, MA?
56.4% of residents in Franklin Town 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 Town?
Key cost-of-living indicators for Franklin Town, MA: median home value is $567,100 (132% above national), median rent is $1,856/month, and median household income is $142,788. The home-value-to-income ratio is 4.0x, a moderate figure by national standards.
What is the poverty rate in Franklin Town?
The poverty rate in Franklin Town, MA is 5.5%, 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 Town, MA?
Franklin Town's population is 0.7% White, 1.0% Hispanic or Latino, 1.9% Black or African American, 2.4% Asian, and 2.0% two or more races. 10.0% of residents are foreign-born.