New Franklin, MO
Population 1,015 · Missouri
About New Franklin, MO
New Franklin is a small town located in Missouri with a population of 1,015 residents according to the latest US Census Bureau American Community Survey data. The median household income is $53,056 per year, which is 29% below the national median of $75,149. The median age of 41.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Franklin features a median home value of $117,700, which is 52% below the national median of $244,900. This makes New Franklin one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $680, 42% below the national average of $1,163/month. Of the 452 total housing units, 62% are owner-occupied (234 units) and 38% are renter-occupied (142 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in New Franklin shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 18.5%, above the national average of 12.4%. Workers in New Franklin have an average one-way commute time of 36.7 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
22.4% of New 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 0.0% White, 4.3% Hispanic or Latino, 0.0% Black or African American, and 0.4% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in New Franklin, MO
Compared to national averages, New Franklin has a median household income of $53,056 (29% below the national median of $75,149). Home values average $117,700, which is 52% below the national median. Monthly rent at $680 is 42% below the US average of $1,163. Within Missouri, New Franklin's income is 13% below the state average of $61,047, and home values are 22% below the state median of $150,786.
Why Live in New Franklin, MO?
New Franklin offers affordable housing with a median home value of $117,700, below the US average of $244,900, and rent that’s lower than the national average at $680/month.
Potential considerations include median household income ($53,056) that falls below the national average. However, New Franklin’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Franklin has a population of 1,015 with a median age of 41.2 years. Compare New Franklin with other cities to see how it stacks up, or explore all cities in Missouri.
Similar Cities Near New Franklin
Cities in Missouri with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Country Club Hills | 1,017 | $48,132 | $49,400 | Compare |
| Lilbourn | 1,021 | $41,250 | $65,600 | Compare |
| Exeter | 997 | $48,214 | $106,300 | Compare |
| Grant City | 993 | $41,250 | $74,100 | Compare |
| Laurie | 992 | $46,667 | $185,800 | Compare |
| Reeds Spring | 992 | $54,565 | $175,700 | Compare |
| Drexel | 1,039 | $51,910 | $128,600 | Compare |
| Highlandville | 1,049 | $58,438 | $180,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Missouri
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Franklin With Other Cities
Frequently Asked Questions about New Franklin
What is the population of New Franklin, MO?
The population of New Franklin, MO is 1,015 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Missouri.
What is the median household income in New Franklin?
The median household income in New Franklin, MO is $53,056 per year, which is 29% below the national median of $75,149.
What is the median home value in New Franklin?
The median home value in New Franklin, MO is $117,700, which is 52% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Franklin?
The median monthly rent in New Franklin, MO is $680, which is 42% below the national average of $1,163/month.
What is the unemployment rate in New Franklin?
The unemployment rate in New Franklin, MO is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Franklin, MO a good place to live?
New Franklin offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,015 and a median age of 41.2, the city appeals to a broad range of residents.
How educated is New Franklin, MO?
22.4% of residents in New 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 New Franklin?
Key cost-of-living indicators for New Franklin, MO: median home value is $117,700 (52% below national), median rent is $680/month, and median household income is $53,056. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Franklin?
The poverty rate in New Franklin, MO is 18.5%, 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 New Franklin, MO?
New Franklin's population is 0.0% White, 4.3% Hispanic or Latino, 0.0% Black or African American, 0.4% Asian, and 4.2% two or more races. 0.0% of residents are foreign-born.