Franklin, TX
Population 1,498 · Texas
About Franklin, TX
Franklin is a small town located in Texas with a population of 1,498 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,688 per year, which is 27% below the national median of $75,149. The median age of 36.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Franklin features a median home value of $171,000, which is 30% 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 $795, 32% below the national average of $1,163/month. Of the 750 total housing units, 49% are owner-occupied (271 units) and 51% are renter-occupied (282 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Franklin shows an unemployment rate of 7.4%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 22.5%, above the national average of 12.4%. Workers in Franklin have an average one-way commute time of 22.5 minutes.
Education & Demographics
20.1% 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 4.9% White, 1.9% Hispanic or Latino, 0.0% Black or African American, and 0.7% Asian residents, with 0.4% of the population being foreign-born.
Cost of Living in Franklin, TX
Compared to national averages, Franklin has a median household income of $54,688 (27% below the national median of $75,149). Home values average $171,000, which is 30% below the national median. Monthly rent at $795 is 32% below the US average of $1,163. Within Texas, Franklin's income is 25% below the state average of $72,726, and home values are 19% below the state median of $211,769.
Why Live in Franklin, TX?
Franklin offers affordable housing with a median home value of $171,000, below the US average of $244,900, and rent that’s lower than the national average at $795/month, and short commute times averaging just 22.5 minutes.
Potential considerations include median household income ($54,688) 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 1,498 with a median age of 36.6 years. Compare Franklin with other cities to see how it stacks up, or explore all cities in Texas.
Similar Cities Near Franklin
Cities in Texas with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| LaCoste | 1,497 | $73,289 | $74,600 | Compare |
| Lakeside town (Tarrant County), Texas | 1,495 | $108,214 | $320,200 | Compare |
| Lexington | 1,493 | $59,821 | $186,100 | Compare |
| Hubbard | 1,492 | $47,284 | $115,600 | Compare |
| Bovina | 1,490 | $42,833 | $111,900 | Compare |
| Laguna Park | 1,506 | $63,214 | $187,500 | Compare |
| Lorena | 1,506 | $87,337 | $263,600 | Compare |
| Boyd | 1,488 | $66,944 | $230,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Texas
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, TX?
The population of Franklin, TX is 1,498 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Texas.
What is the median household income in Franklin?
The median household income in Franklin, TX is $54,688 per year, which is 27% below the national median of $75,149.
What is the median home value in Franklin?
The median home value in Franklin, TX is $171,000, which is 30% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Franklin?
The median monthly rent in Franklin, TX is $795, which is 32% below the national average of $1,163/month.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin, TX is 7.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Franklin, TX a good place to live?
Franklin offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,498 and a median age of 36.6, the city appeals to a broad range of residents.
How educated is Franklin, TX?
20.1% 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, TX: median home value is $171,000 (30% below national), median rent is $795/month, and median household income is $54,688. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Franklin?
The poverty rate in Franklin, TX is 22.5%, 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 Franklin, TX?
Franklin's population is 4.9% White, 1.9% Hispanic or Latino, 0.0% Black or African American, 0.7% Asian, and 23.7% two or more races. 0.4% of residents are foreign-born.