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The total population of Franklin is estimated to be 4,933 with 2,513 males (50.94%) and 2,420 females (49.06%). There are 93 less females than males in Franklin.
The median household income in Franklin was $82,937 in 2021, which marked an a decrease of 5,076(5.77%) from $88,013 in 2020. This income is 111.17% 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 sees its highest median household income among householders in the age group of 25 to 44 years old, at $96,607. Overall, the median household income for the borough of Franklin stands at $82,937.
In Franklin, the median income for all workers aged 15 years and older, regardless of work hours, was $49,104 for males and $38,558 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $58,847 for males and $57,307 for females.
In Franklin, there are just three different racial groups among households. Among these, Two or More Races households report a median household income of $99,512, followed by White households at $82,795, and Some Other Race households with a median household income of $72,398.
In 2022, the population of Franklin was 4,967, a 0.32% increase year-by-year from 2021. Previously, in 2021, Franklin's population was 4,951, an increase of 1.12% compared to a population of 4,896 in 2020.
The median age in Franklin, NJ is 49.2, as per 2021 ACS 5-Year Estimates. Of the total population, 15.23% were under the age of 15, 16.29% aged 15 to 29, 44.54% aged 30 to 64, 19.21% aged 65 to 84, and 4.73% were 85 years of age and older.
Racial distribution of Franklin population: 85.34% are White, 2.63% are Black or African American, 0.18% are Asian, 4.18% are some other race and 7.67% are multiracial.