Franklin, MI population, income and ZIP codes

Franklin village is a small town in Michigan, with 2,610 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #264 of 745 ranked by population — larger than 64% of them. The median age here is 49.6 years against 39.1 nationally, a markedly older profile that usually tracks retirees staying put and younger households leaving for work. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.

Households in Franklin village earn a median of $176,571 a year, 124.8% above the national figure of $78,538 and 186% above the $61,715 median for the 438 Michigan cities we cover. Median household income counts every pre-tax dollar arriving at an address — wages, self-employment, Social Security, pensions, interest and public assistance — for everyone living there, so multi-earner households pull the figure up even where individual pay is modest. Poverty reaches 2.3% of residents here, less than half the 12.4% national rate.

The typical owner-occupied home in Franklin village is valued at $696,700, 129.6% above the national figure and 319% above the $166,100 peer median, while median gross rent runs $3,175 a month, 125.8% above the national figure, or roughly $38,100 across a full year. A household on the local median income would put about 21.6% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is within the standard affordability guideline. The home-price-to-income ratio works out to 3.9×, against roughly 3.9× nationally, so buying is easier here than in the average US market. 94.9% of occupied homes are owner-occupied versus 65% nationally, an owner-dominated market where rental listings are scarce and rent medians rest on a thin sample. The rent line includes utilities paid by the tenant, a definition worth remembering when comparing it against a landlord's quoted rate.

All values below were released by the Census for this exact geography, with no gap-filling on our side. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.