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The median household income in Franklin town was $97,226 in 2021, which marked an a decrease of 6,881(6.61%) from $104,107 in 2020. This income is 130.32% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Franklin town sees its highest median household income among householders in the age group of 25 to 44 years old, at $123,517. Overall, the median household income for the town of Franklin town stands at $97,226.
In Franklin town, the median income for all workers aged 15 years and older, regardless of work hours, was $58,437 for males and $35,214 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $79,428 for males and $64,011 for females.
In Franklin town, there are just two different racial groups among households. Among these, Two or More Races households report a median household income of $146,695, while White households have a median household income of $95,031.
In 2021, the population of Franklin town was 1,862, a 0.54% increase year-by-year from 2020. Previously, in 2020, Franklin town's population was 1,852, a decline of 3.89% compared to a population of 1,927 in 2019.
The median age in Franklin, Connecticut is 41.9, as per 2021 ACS 5-Year Estimates. Of the total population, 18.96% were under the age of 15, 16.89% aged 15 to 29, 47.57% aged 30 to 64, 14.50% aged 65 to 84, and 2.07% were 85 years of age and older.
The total population of Franklin town is estimated to be 1,835 with 915 males (49.86%) and 920 females (50.14%). There are 5 more females than males in Franklin town.
Racial distribution of Franklin town population: 83.81% are White, 1.96% are Black or African American, 0.11% are American Indian and Alaska Native, 0.16% are Asian, 2.07% are some other race and 11.88% are multiracial.