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Franklin, MI
Full City Profile · Michigan · Oakland County County
3.9
/5.0
B+
Good
2,610
Population
981/sq mi density
$176,571
Median Income
$123,132 per capita
$696,700
Home Value
$867,371 Zillow
$3,175
Median Rent
26.9% income on rent
49°F
Avg Temperature
260 sunny days/yr
61
Violent Crime/100K
1,102 property/100K
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
5.0 / 5.0
$176,571 median income, 1.2% unemployment
A
Affordability
4.5 / 5.0
$696,700 home value, $3,175/mo rent
F
Safety
1.0 / 5.0
61 violent crimes/100K
A+
Education
5.0 / 5.0
80.3% bachelor's degree or higher
Change Over Time (2013–2023)
Population Change
-2.8%
3,229 → 3,140
over 10 years
Annual Pop. Growth
-0.28%
Compound annual growth rate
Median Income Change
+27%
$139,000 → $176,571
nominal, not inflation-adjusted
Annual Income Growth
+2.42%
Compound annual growth rate
Population Over Time
Total population for Franklin across each available Census ACS release.
Median Household Income Over Time
Median household income reported by U.S. Census ACS. Values are nominal (not adjusted for inflation).
Projected 2030
Simple projections extrapolating the 2013–2023 compound annual growth rate forward. These are mathematical extensions of recent trends, not forecasts — real outcomes depend on migration, policy and economic shifts.
Projected Population 2030
3,079
-61 from 2023 (3,140)
Projected Median Income 2030
$208,743
+$32,172 from 2023 ($176,571)
Year-by-Year Detail
| Year | Population | YoY % | Median Income | YoY % |
|---|---|---|---|---|
| 2013 | 3,229 | — | $139,000 | — |
| 2015 | 3,246 | +0.5% | $143,289 | +3.1% |
| 2017 | 3,268 | +0.7% | $149,491 | +4.3% |
| 2019 | 3,246 | -0.7% | $161,607 | +8.1% |
| 2021 | 3,133 | -3.5% | $155,703 | -3.7% |
| 2023 | 3,140 | +0.2% | $176,571 | +13.4% |
Source: U.S. Census ACS 5-Year Estimates (Data Commons). Home value and rent are not yet available historically.