Franklin, NC
Population 4,221 · North Carolina
About Franklin, NC
Franklin is a small town located in North Carolina with a population of 4,221 residents according to the latest US Census Bureau American Community Survey data. The median household income is $43,991 per year, which is 41% below the national median of $75,149. The median age of 47.3 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 $190,600, which is 22% 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 $738, 37% below the national average of $1,163/month. Of the 2,192 total housing units, 56% are owner-occupied (1,127 units) and 44% are renter-occupied (868 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 2.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 21.6%, above the national average of 12.4%. Workers in Franklin have an average one-way commute time of 23.5 minutes.
Education & Demographics
22.2% 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 13.9% White, 1.2% Hispanic or Latino, 0.0% Black or African American, and 3.1% Asian residents, with 11.1% of the population being foreign-born.
Cost of Living in Franklin, NC
Compared to national averages, Franklin has a median household income of $43,991 (41% below the national median of $75,149). Home values average $190,600, which is 22% below the national median. Monthly rent at $738 is 37% below the US average of $1,163. Within North Carolina, Franklin's income is 32% below the state average of $64,468, and home values are 17% below the state median of $228,922.
Why Live in Franklin, NC?
Franklin offers affordable housing with a median home value of $190,600, below the US average of $244,900, and rent that’s lower than the national average at $738/month, and a strong job market with an unemployment rate of just 2.3%. Additionally, the city features short commute times averaging just 23.5 minutes.
Potential considerations include median household income ($43,991) 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 4,221 with a median age of 47.3 years. Compare Franklin with other cities to see how it stacks up, or explore all cities in North Carolina.
Similar Cities Near Franklin
Cities in North Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mount Olive | 4,204 | $45,869 | $117,200 | Compare |
| Spindale | 4,244 | $38,509 | $130,800 | Compare |
| Wingate | 4,169 | $65,208 | $217,700 | Compare |
| Surf City | 4,160 | $84,833 | $478,600 | Compare |
| Benson | 4,144 | $65,614 | $176,000 | Compare |
| Southport | 4,143 | $82,792 | $394,900 | Compare |
| Sunset Beach | 4,326 | $84,934 | $354,300 | Compare |
| Forest Oaks | 4,095 | $108,250 | $294,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in North Carolina
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, NC?
The population of Franklin, NC is 4,221 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in North Carolina.
What is the median household income in Franklin?
The median household income in Franklin, NC is $43,991 per year, which is 41% below the national median of $75,149.
What is the median home value in Franklin?
The median home value in Franklin, NC is $190,600, which is 22% 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, NC is $738, which is 37% below the national average of $1,163/month.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin, NC is 2.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Franklin, NC a good place to live?
Franklin offers a moderate cost of living, affordable housing, and a strong job market. With a population of 4,221 and a median age of 47.3, the city appeals to established professionals and retirees.
How educated is Franklin, NC?
22.2% 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, NC: median home value is $190,600 (22% below national), median rent is $738/month, and median household income is $43,991. The home-value-to-income ratio is 4.3x, a moderate figure by national standards.
What is the poverty rate in Franklin?
The poverty rate in Franklin, NC is 21.6%, 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, NC?
Franklin's population is 13.9% White, 1.2% Hispanic or Latino, 0.0% Black or African American, 3.1% Asian, and 2.0% two or more races. 11.1% of residents are foreign-born.