Franklin village, Illinois Demographics & Population 2026

Population Overview

Franklin village is a small community located in Illinois. The total population is 554. It ranks as the 908th most populous out of 1,445 cities and towns in Illinois.

Age Demographics

The median age in Franklin village is 36.3 years. This is 7% lower than the state median of 38.9 years.

Economy, Income & Housing

The median household income in Franklin village is $66,250. This is 19% lower than the state median of $81,702. Compared to the national median of $78,538, household income here is 16% lower. The poverty rate stands at 7.3%. This is 38% lower than the state poverty rate of 11.7%. The unemployment rate is 2.4%. This is 59% lower than the state rate of 5.8%. The median home value is $103,300. Housing costs are 59% lower than the state median of $250,500. With a home-value-to-income ratio of just 1.6x, Franklin village is one of the most affordable housing markets in the area. 68.8% of occupied housing units are owner-occupied. This homeownership rate is 3% higher than the state average of 66.8%.

Race & Ethnicity

Franklin village has a predominantly White (non-Hispanic) population, comprising 97.8% of all residents. Hispanic or Latino residents account for 1.4%. The White (non-Hispanic) population is significantly higher than the state average (97.8% vs 58.8%). The Hispanic or Latino population (1.4%) is well below the state average of 18.5%.

Education

23.4% of residents aged 25 and older hold a bachelor's degree or higher. This is 37% lower than the state rate of 37.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 92.3%.

Data Sources & Methodology

All demographic data for Franklin village, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Illinois state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,445 Census-designated places in Illinois. For official data, visit data.census.gov.