Franklin, Tennessee Demographics & Population 2026
During the 2020–2024 ACS period, Franklin, Tennessee had a total population of 87,133, the 7th largest city in Tennessee, with a median household income of $119,528, which is 72% higher than the state average. The poverty rate is 4.7%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 72% above the state average — one of the wealthiest communities in Tennessee.
- An exceptionally low poverty rate of 4.7% — among the lowest in Tennessee.
- 64.5% of adults hold a bachelor's degree or higher — top 10% in Tennessee.
- Near full employment with an unemployment rate of just 2.2%.
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 | 85,575 | 87,133 | +1.8% |
| Median household income | $115,000 | $119,528 | +3.9% |
| Median home value | $646,300 | $705,400 | +9.1% |
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
Moderate diversity with one or two groups making up the majority.
State average: 46 | National average: 61
Education
Educational Attainment (Adults 25+)
Franklin Rankings in Tennessee
Explore Tennessee Rankings
Other Cities in Williamson County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Spring Hill | 55,765 | $112,013 | 4.3% | $493,800 |
| Brentwood | 45,556 | $182,088 | 3.6% | $1,031,300 |
| Nolensville | 15,074 | $177,148 | 2.1% | $777,800 |
| Fairview | 10,009 | $91,131 | 11.6% | $390,200 |
| Thompson's Station | 8,294 | $132,647 | 3.5% | $700,500 |
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 |
|---|---|---|---|---|---|
| Hendersonville | 63,091 | $97,200 | $430,700 | 43.9% | 6.3% |
| Spring Hill | 55,765 | $112,013 | $493,800 | 50.3% | 4.3% |
| Bartlett | 56,876 | $102,070 | $310,400 | 35.7% | 5.1% |
| Johnson City | 72,222 | $57,254 | $268,200 | 42.5% | 20.3% |
| Collierville | 51,515 | $138,598 | $485,900 | 62.5% | 3.2% |
Population Overview
Franklin is a mid-sized community located in Tennessee, within Williamson County. The total population is 87,133. It ranks as the 7th most populous out of 502 Census-designated places in Tennessee.
Age Demographics
The median age in Franklin is 38.6 years. This is about the same as the state median of 38.9 years.
Economy, Income & Housing
The median household income in Franklin is $119,528. This is 72% higher than the state median of $69,595. It is also 48% higher than the national median of $80,734. The poverty rate stands at 4.7%. This is 66% lower than the state poverty rate of 13.8%. This exceptionally low poverty rate indicates strong economic prosperity across the community. The unemployment rate is 2.2%. This is 52% lower than the state rate of 4.7%. The median home value is $705,400. Housing costs are 146% higher than the state median of $286,700. The home-value-to-income ratio is 5.9x. 63.8% of occupied housing units are owner-occupied. This homeownership rate is 5% lower than the state average of 66.9%.
Race & Ethnicity
The largest racial or ethnic group in Franklin is White (non-Hispanic), making up 74.4% of the population. Asian residents account for 8.2%. The Black or African American population (5.3%) is well below the state average of 15.4%. The Asian population is significantly higher than the state average (8.2% vs 1.9%).
Education
64.5% of residents aged 25 and older hold a bachelor's degree or higher. This places Franklin in the top 10% of all cities in the state for educational attainment. This is 108% higher than the state rate of 31.1%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 95.5%. Notably, 24.8% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Franklin, Tennessee 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 Tennessee state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 502 Census-designated places in Tennessee. 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, Tennessee?
Franklin, Tennessee has a population of 87,133 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Franklin, TN?
The median household income in Franklin is $119,528, which is 48% higher than the national median of $80,734.
What is the poverty rate in Franklin, TN?
The poverty rate in Franklin is 4.7%. This means approximately 4,017 residents live below the federal poverty line.
What is the racial makeup of Franklin, Tennessee?
Franklin's population is 74.4% White, 5.3% Black, 8.1% Hispanic/Latino, and 8.2% Asian.
What is the median home value in Franklin, TN?
The median home value in Franklin is $705,400. The home-value-to-income ratio is 5.9x.
How educated is Franklin, Tennessee?
64.5% of adults (25+) in Franklin hold a bachelor's degree or higher, and 24.8% hold a graduate or professional degree.