Franklin, Minnesota Demographics & Population 2026
During the 2020–2024 ACS period, Franklin, Minnesota had a total population of 526, the 487th largest city in Minnesota, with a median household income of $51,500, which is 42% lower than the state average. The poverty rate is 16.1%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 42% below the state average, indicating significant economic challenges.
- Housing is very affordable with a home-value-to-income ratio of just 1.7x.
Franklin Quick Facts
How Franklin Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 513 | 526 | +2.5% |
| Median household income | $54,904 | $51,500 | -6.2% |
| Median home value | $84,800 | $89,800 | +5.9% |
How Franklin Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 41 | National average: 61
Education
Educational Attainment (Adults 25+)
Franklin Rankings in Minnesota
Explore Minnesota Rankings
Other Cities in Renville County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Olivia | 2,205 | $63,098 | 13.4% | $159,200 |
| Renville | 1,503 | $69,306 | 13.1% | $126,400 |
| Hector | 1,130 | $63,362 | 8.8% | $132,000 |
| Fairfax | 1,088 | $60,172 | 19.6% | $116,300 |
| Bird Island | 930 | $75,833 | 7.7% | $142,100 |
| Buffalo Lake | 635 | $66,167 | 20.1% | $113,400 |
| Sacred Heart | 481 | $70,667 | 11.8% | $85,700 |
| Danube | 472 | $61,944 | 2.3% | $141,300 |
| Morton | 384 | $53,036 | 11.0% | $78,100 |
Cities Similar to Franklin
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Hendricks | 517 | $51,250 | $115,500 | 33.1% | 9.6% |
| Trimont | 546 | $49,196 | $98,800 | 22.8% | 15.2% |
| Cosmos | 536 | $56,635 | $105,500 | 10.0% | 15.3% |
| Kiester | 494 | $52,727 | $58,800 | 9.7% | 21.5% |
| Balaton | 551 | $54,688 | $94,000 | 15.4% | 17.7% |
A note before these figures: with a population of 526, Franklin's ACS estimates come from a small number of survey responses and carry wide margins of error. Individual percentages below — particularly rates that round to 0% or 100% — are approximations, not precise measurements. See data.census.gov for the published margins of error.
Population Overview
Franklin is a small community located in Minnesota, within Renville County. The total population is 526. It ranks as the 487th most populous out of 914 Census-designated places in Minnesota.
Age Demographics
The median age in Franklin is 38.8 years. This is about the same as the state median of 38.8 years.
Economy, Income & Housing
The median household income in Franklin is $51,500. This is 42% lower than the state median of $89,062. It is also 36% lower than the national median of $80,734. The poverty rate stands at 16.1%. This is 73% higher than the state poverty rate of 9.3%. The unemployment rate is 3.3%. This is 19% lower than the state rate of 4.1%. The median home value is $89,800. Housing costs are 73% lower than the state median of $329,300. With a home-value-to-income ratio of just 1.7x, Franklin is one of the most affordable housing markets in the area. 83.9% of occupied housing units are owner-occupied. This homeownership rate is 16% higher than the state average of 72.2%.
Race & Ethnicity
The largest racial or ethnic group in Franklin is White (non-Hispanic), making up 80.8% of the population. Hispanic or Latino residents account for 8.9%. The Black or African American population (1.9%) is well below the state average of 7.0%.
Education
10.3% of residents aged 25 and older hold a bachelor's degree or higher. This is 74% lower than the state rate of 39.4%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 88.0%.
Data Sources & Methodology
All demographic data for Franklin, Minnesota is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Minnesota state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 914 Census-designated places in Minnesota. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Franklin, Minnesota?
Franklin, Minnesota has a population of 526 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Franklin, MN?
The median household income in Franklin is $51,500, which is 36% lower than the national median of $80,734.
What is the poverty rate in Franklin, MN?
The poverty rate in Franklin is 16.1%. This means approximately 78 residents live below the federal poverty line.
What is the racial makeup of Franklin, Minnesota?
Franklin's population is 80.8% White, 1.9% Black, 8.9% Hispanic/Latino, and 5.5% Asian.
What is the median home value in Franklin, MN?
The median home value in Franklin is $89,800. The home-value-to-income ratio is 1.7x.
How educated is Franklin, Minnesota?
10.3% of adults (25+) in Franklin hold a bachelor's degree or higher, and 0.0% hold a graduate or professional degree.