Franklin, TN median household income diversity
Based on our analysis of the distribution of Franklin population by race & ethnicity, the population is predominantly White. This particular racial category constitutes the majority, accounting for 79.33% of the total residents in Franklin. Notably, the median household income for White households is $105,267.
Interestingly, despite the White population being the most populous, it is worth noting that Asian households actually reports the highest median household income, with a median income of $156,250. This reveals that, while Whites may be the most numerous in Franklin, Asian households experience greater economic prosperity in terms of median household income.
For a better visual representation of these income disparities, take a look at the bar chart below. It illustrates the varying median household incomes across races, providing a clear comparison for each of the racial categories defined by the U.S. Census Bureau.
In Franklin, a diversity of median household incomes is evident among households of different races. The Asian households boast the highest median household income at about $156,250. Two or More Races households have a median income of approximately $121,904. White households have a median income of approximately $105,267. Black or African American households have a median income of approximately $91,586. Conversely, Some Other Race households reveal the lowest median income at $78,414. These disparities underscore the varied income distribution within the city of Franklin.
Franklin, TN median household income trends across races
A decade typically encompasses substantial economic changes. To conduct a comprehensive analysis of these changes in Franklin, we have analysed how these changes have unfolded among the racial categories identified by the U.S. Census Bureau for the city of Franklin.
Key stats for each racial category as per our analysis of U.S. Census Bureau American Community Survey:
- White: In Franklin, the median household income for the households where the householder is White decreased by $3,931(3.60%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $109,198 in 2012 and $105,267 in 2022.
- Black or African American: In Franklin, the median household income for the households where the householder is Black or African American increased by $49,945(119.94%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $41,641 in 2012 and $91,586 in 2022.
- American Indian and Alaska Native: Even though there is a population where the householder is American Indian and Alaska Native, there was no median household income reported by the U.S. Census Bureau for both 2012 and 2022.
- Asian: In Franklin, the median household income for the households where the householder is Asian increased by $61,410(64.75%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $94,840 in 2012 and $156,250 in 2022.
- Native Hawaiian and Other Pacific Islander: According to the U.S. Census Bureau population data for Franklin, there are no households with Native Hawaiian and Other Pacific Islander householders. Consequently, the median household income for the Native Hawaiian and Other Pacific Islander population is not available.
- Some other race: In Franklin, there was no reported median household income for Some other race households in 2012. However, in 2022, the median household income increased to $78,414, marking a significant change.
- Two or more races (multiracial): In Franklin, the median household income for the households where the householder is multiracial increased by $24,306(24.90%), between 2012 and 2022. The median household income, in 2022 inflation-adjusted dollars, was $97,598 in 2012 and $121,904 in 2022.
- Above analysis reconfirms that there are 5 race households in Franklin. Households are categorized based on the self-identified race of the head of household.
Franklin median household income by race betwen 2012 and 2022
Explore the evolution of median household incomes over the past decade across various racial categories identified by the U.S. Census Bureau. This table showcases the annual income trends, from 2012 to 2022, providing insights into the economic shifts within diverse racial communities.
| Race Of The Head Of Household | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| White | N/A | N/A | $109,198 | $107,403 | $102,844 | $119,548 | $117,082 | $120,160 | $106,775 | $117,977 | N/A | $113,581 | $105,267 |
| Black or African American | N/A | N/A | $41,641 | $49,480 | $46,244 | $50,474 | $42,779 | $50,763 | $84,641 | N/A | N/A | $86,062 | $91,586 |
| Asian | N/A | N/A | $94,840 | $157,774 | N/A | $124,657 | $90,523 | $124,252 | $117,542 | $135,447 | N/A | $144,832 | $156,250 |
| Some Other Race | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $241,338 | $78,414 |
| Two or More Races | N/A | N/A | $97,598 | $128,138 | N/A | $162,030 | $165,056 | $64,717 | $214,056 | $161,879 | N/A | N/A | $121,904 |
Key observations: Households with Some other race householders witnessed significant growth in median household income, marking an impressive increase of $78,414. On the other hand, households where householder is White experienced a notable decline, with a decrease of $3,931 in median income.