Michigan · Census place 30340
Franklin village, MI
Quick answer
Franklin village has 2,610 residents, ranking #264 of 745 places in Michigan. Median household income is $176,571, the median home is worth $696,700 and median gross rent runs $3,175 a month.
- Population
- 2,610Franklin village residents
- Median household income
- $176,571Past 12 months, inflation adjusted
- Median home value
- $696,700Owner-occupied units
- Median gross rent
- $3,175Rent plus utilities, monthly
- Median age
- 49.6 yrsAll residents
- Homeownership rate
- 94.9%Owner-occupied households
What the numbers mean in Franklin village
Housing cost measured against local earnings.
A household earning the Franklin village median would spend about 21.6% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 3.9× the median household income; nationally that ratio sits near 4.5×. Poverty affects 2.3% of residents and 94.9% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
Compare with nearby places
Places of similar size in Michigan.
- Carleton village 2,635
- Montague city 2,630
- Mattawan village 2,615
- Pleasant Ridge city 2,607
- Village of Grosse Pointe Shores city 2,589
- Shelby village 2,571
- Spring Lake village 2,530
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