Franklin, MN
Population 513 · Minnesota
About Franklin, MN
Franklin is a small community in Minnesota with a population of 513 residents. The median household income is $54,904 per year, which is near the national average. The median age in Franklin is 38 years.
Housing in Franklin has a median home value of $84,800 and median monthly rent of $883. Of the 201 total housing units, the majority are owner-occupied, with 167 owner-occupied and 32 renter-occupied units.
The unemployment rate in Franklin is 1.9% and the poverty rate is 15.1%. 12.5% of residents hold a bachelor's degree or higher. The average commute time is 22.9 minutes.
Cost of Living in Franklin, MN
Compared to national averages, Franklin has a median household income of $54,904 (27% below the national median of $75,149). Home values average $84,800, which is 65% below the national median. Monthly rent at $883 is 24% below the US average of $1,163. Within Minnesota, Franklin's income is 26% below the state average of $74,221, and home values are 59% below the state median of $204,472.
Why Live in Franklin, MN?
Franklin offers affordable housing with a median home value of $84,800, below the US average of $244,900, and rent that’s lower than the national average at $883/month, and a strong job market with an unemployment rate of just 1.9%. Additionally, the city features short commute times averaging just 22.9 minutes.
Potential considerations include median household income ($54,904) 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 513 with a median age of 38 years. Compare Franklin with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Franklin
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Hampton | 510 | $106,111 | $305,700 | Compare |
| Pennock | 510 | $68,846 | $140,500 | Compare |
| Gem Lake | 521 | $146,250 | $536,600 | Compare |
| Woodland | 505 | $189,107 | $1,220,600 | Compare |
| Rothsay | 504 | $83,125 | $135,000 | Compare |
| Sacred Heart | 522 | $63,125 | $57,600 | Compare |
| Stephen | 524 | $63,750 | $83,800 | Compare |
| Sturgeon Lake | 526 | $77,500 | $190,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
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, MN?
The population of Franklin, MN is 513 according to the latest Census data.
What is the median household income in Franklin?
The median household income in Franklin, MN is $54,904 per year.
What is the median home value in Franklin?
The median home value in Franklin, MN is $84,800.
What is the average rent in Franklin?
The median monthly rent in Franklin, MN is $883.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin, MN is 1.9%.