Franklin village, Michigan Demographics & Population 2026

Population Overview

Franklin village is a small community located in Michigan. The total population is 2,610. It ranks as the 264th most populous out of 745 cities and towns in Michigan.

Age Demographics

The median age in Franklin village is 49.6 years. This is 24% higher than the state median of 40.1 years. 12.6% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.

Economy, Income & Housing

The median household income in Franklin village is $176,571. This is 148% higher than the state median of $71,149. Compared to the national median of $78,538, household income here is 125% higher. The poverty rate stands at 2.3%. This is 83% lower than the state poverty rate of 13.1%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 1.9%. This is 68% lower than the state rate of 5.8%. The median home value is $696,700. Housing costs are 220% higher than the state median of $217,600. The home-value-to-income ratio is 3.9x. 94.9% of occupied housing units are owner-occupied. This homeownership rate is 30% higher than the state average of 72.9%.

Race & Ethnicity

The largest racial or ethnic group in Franklin village is White (non-Hispanic), making up 71.4% of the population. Black or African American residents account for 13.1%.

Education

80.3% of residents aged 25 and older hold a bachelor's degree or higher. This places Franklin village in the top 10% of all cities in the state for educational attainment. This is 153% higher than the state rate of 31.8%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 97.8%. Notably, 46.0% of adults hold a graduate or professional degree, indicating a highly educated workforce.

Data Sources & Methodology

All demographic data for Franklin village, Michigan 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 Michigan state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 745 Census-designated places in Michigan. For official data, visit data.census.gov.