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The total population of Franklin is estimated to be 8,194 with 3,921 males (47.85%) and 4,273 females (52.15%). There are 352 more females than males in Franklin.
The median household income in Franklin was $53,423 in 2021, which marked an a decrease of 3,020(5.35%) from $56,443 in 2020. This income is 71.61% 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 45 to 64 years old, at $57,648. Overall, the median household income for the city of Franklin stands at $53,423.
In Franklin, the median income for all workers aged 15 years and older, regardless of work hours, was $42,736 for males and $25,221 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $57,272 for males and $41,703 for females.
In Franklin, the demographic landscape is diverse, spanning 4 distinct racial categories among households. Among these, Asian households have the highest median household income at $82,284, while Black or African American households represent the opposite end with the lowest median household income of $38,863.
In 2022, the population of Franklin was 8,247, a 1.46% increase year-by-year from 2021. Previously, in 2021, Franklin's population was 8,128, a decline of 0.26% compared to a population of 8,149 in 2020.
The median age in Franklin, VA is 39.0, as per 2021 ACS 5-Year Estimates. Of the total population, 21.58% were under the age of 15, 16.83% aged 15 to 29, 41.71% aged 30 to 64, 17.06% aged 65 to 84, and 2.82% were 85 years of age and older.
Racial distribution of Franklin population: 37.88% are White, 53.30% are Black or African American, 2.75% are Asian, 0.32% are some other race and 5.75% are multiracial.