Franklin, NY
Population 413 · New York
About Franklin, NY
Franklin is a small community located in New York with a population of 413 residents according to the latest US Census Bureau American Community Survey data. The median household income is $80,000 per year, which is 6% above the national median of $75,149. The median age of 43.7 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 features a median home value of $187,100, which is 24% 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 $785, 33% below the national average of $1,163/month. Of the 216 total housing units, 62% are owner-occupied (114 units) and 38% are renter-occupied (70 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 8.3%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 11.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Franklin have an average one-way commute time of 27.2 minutes.
Education & Demographics
36.8% of Franklin residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 6.3% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 2.7% Asian residents, with 7.5% of the population being foreign-born.
Cost of Living in Franklin, NY
Compared to national averages, Franklin has a median household income of $80,000 (6% above the national median of $75,149). Home values average $187,100, which is 24% below the national median. Monthly rent at $785 is 33% below the US average of $1,163. Within New York, Franklin's income is 18% below the state average of $96,987, and home values are 52% below the state median of $387,181.
Why Live in Franklin, NY?
Franklin offers a strong local economy with a median household income of $80,000, well above the national average, and affordable housing with a median home value of $187,100, below the US average of $244,900, and rent that’s lower than the national average at $785/month. Additionally, the city features a well-educated community where 36.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 11.4%, better than the national average.
Franklin has a population of 413 with a median age of 43.7 years. Compare Franklin with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Franklin
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Castorland | 414 | $58,438 | $154,300 | Compare |
| Hobart | 410 | $62,813 | $142,600 | Compare |
| Chazy | 409 | $0 | $169,100 | Compare |
| Jeffersonville | 417 | $71,250 | $223,800 | Compare |
| Springwater | 418 | $60,909 | $116,300 | Compare |
| Mooers | 423 | $69,417 | $162,900 | Compare |
| Munnsville | 402 | $68,750 | $110,100 | Compare |
| Haines Falls | 401 | $114,750 | $242,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
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, NY?
The population of Franklin, NY is 413 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New York.
What is the median household income in Franklin?
The median household income in Franklin, NY is $80,000 per year, which is 6% above the national median of $75,149.
What is the median home value in Franklin?
The median home value in Franklin, NY is $187,100, which is 24% 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, NY is $785, which is 33% below the national average of $1,163/month.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin, NY is 8.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin, NY a good place to live?
Franklin offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 413 and a median age of 43.7, the city appeals to a broad range of residents.
How educated is Franklin, NY?
36.8% of residents in Franklin 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?
Key cost-of-living indicators for Franklin, NY: median home value is $187,100 (24% below national), median rent is $785/month, and median household income is $80,000. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Franklin?
The poverty rate in Franklin, NY is 11.4%, 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, NY?
Franklin's population is 6.3% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 2.7% Asian, and 0.0% two or more races. 7.5% of residents are foreign-born.