Franklin, IN Profile: Facts & Data

The City of Franklin had a population of 26,690 as of July 1, 2024. Franklin ranks in the upper quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Indiana. See peer rankings below.

The primary coordinate point for Franklin is located at latitude 39.4806 and longitude -86.055 in Johnson County. The formal boundaries for the City of Franklin encompass a land area of 13.01 sq. miles and a water area of 0 sq. miles. Johnson County is in the Eastern time zone (GMT -5).

The City of Franklin has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Franklin, IN Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	26,690 (100%)
Population in Households	25,359 (95.0%)
Population in Families	20,655 (77.4%)
Population in Group Quarters¹	1,331 ( 5.0%)
Population Density	1,744
Diversity Index²	28


INCOME
Median Household Income	$77,194
Average Household Income	$89,584
% of Income for Mortgage⁴	21%
Per Capita Income	$33,567
Wealth Index⁵	67
Socioeconomic Status Index⁶	Moderate (51.5)

HOUSING
Total HU (Housing Units)	10,550 (100%)
Owner Occupied HU	6,860 (65.0%)
Renter Occupied HU	3,108 (29.5%)
Vacant Housing Units	582 ( 5.5%)
Median Home Value	$260,930
Average Home Value	$277,905
Housing Affordability Index³	118

HOUSEHOLDS
Total Households	9,968
Average Household Size	2.54
Family Households	6,635
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Franklin, IN - Peer Comparisons by Rank and Percentile

The table below compares Franklin to the other 976 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	1.24%	0.67%
Households	1.33%	0.78%
Families		0.72%
Median Household Income		1.92%
Per Capita Income		3.04%
Owner Occupied HU		1.43%

Variable Description	Rank	Percentile
Total Population	# 39	96th
Population Density	# 161	84th
Median Household Income	# 364	63rd
Housing Affordability Index	# 408	42nd
Per Capita Income	# 563	43rd
Diversity Index	# 214	78th

Franklin, IN Profile: Facts & Data

Franklin, Indiana - Basic Facts

Franklin, IN Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Franklin, IN - Peer Comparisons by Rank and Percentile

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