Housing data for Franklin, MI
Franklin, MI has an estimated 2,554 residents and 1,103 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a village in Oakland County.
1.8% of households rent.
Its population shrank measurably since 2015–2019 (−22.8%).
Figures last updated on .
- Residents
- 2,554 (±461)
- Housing units
- 1,103 (±193)
- Households that rent
- 1.8%
- Residents since 2015–2019
- −22.8%
What stands out in Franklin
Median home value: $774,900 (±$70,276) in Franklin, higher than in Oakland County ($343,600).
Median real estate taxes: $9,379 (±$1,157) in Franklin, higher than in Oakland County ($4,371).
Median household income: $194,079 (±$33,148) in Franklin, higher than in Oakland County ($97,760).
Households that rent: 1.8% (±1.8 points) in Franklin, lower than in Oakland County (27.3%).
Housing in Franklin at a glance
- Rent burden: 100.0% of renters pay 30% or more of income (Small sample: wide margin of error)
- Renters and owners: 1.8% of households rent (Small sample: wide margin of error)
- Income and affordability: $194,079 median household income
- Home values: $774,900 median home value
- Homeowner costs: $3,244 median monthly cost with a mortgage
- Property taxes: $9,379 median real estate taxes a year
- Types of homes: 0.5% of homes are in buildings of 5 or more units
- Bedrooms: 96.6% of homes have 3 or more bedrooms (Small sample: wide margin of error)
- Age of homes: 76.8% of homes were built before 1980
- Vacancy rate: 0.0% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 89.1% heat with utility gas
- Commute and cars: 25.5 minutes average trip to work
- Crime reported to police: 127 violent crimes per 100,000 residents
- Growth: −22.8% residents since 2015–2019
- How long people stay: 16.9% moved in since 2020
- Crowding and facilities: 0.0% of homes have more than 1 person per room (Small sample: wide margin of error)
- Fair Market Rent: $2,190 Small Area FMR, 2 bedrooms (ZIP 48025)
Franklin against Oakland County, its state and the nation
| Franklin | Oakland County | Michigan | United States | |
|---|---|---|---|---|
| Residents | 2,554 (±461) | 1,279,825 (exact) | 10,077,761 (exact) | 334,922,499 |
| Housing units | 1,103 (±193) | 561,348 (±263) | 4,622,236 (±795) | 143,775,355 |
| Households that rent | 1.8% (±1.8 points) | 27.3% (±0.4 points) | 26.8% (±0.2 points) | 34.8% |
| Median gross rent | — | $1,376 (±$14) | $1,129 (±$4) | $1,413 |
| Median household income | $194,079 (±$33,148) | $97,760 (±$1,268) | $72,875 (±$293) | $80,734 |
| Median home value | $774,900 (±$70,276) | $343,600 (±$2,730) | $231,600 (±$642) | $332,700 |
| Median real estate taxes (a year) | $9,379 (±$1,157) | $4,371 (±$39) | $2,904 (±$9) | $3,119 |
| Built before 1980 | 76.8% (±9.1 points) | 58.1% (±0.7 points) | 62.1% (±0.2 points) | 49.7% |
| Average commute | 25.5 minutes (±3.3) | 25.8 minutes (±0.2) | 24.2 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 98.9% (±1.1 points) | 94.2% (±0.3 points) | 90.5% (±0.1 points) | 91.0% |
| Median age of residents | 49.5 years (±3.6) | 41.3 years (±0.1) | 40.2 years (±0.1) | 38.9 years |
Franklin covers 2.7 square miles of land, about 959 residents per square mile (Census Bureau Gazetteer).
How Franklin has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 3,310 (±131) | 2,554 (±461) | −22.8% | Measurable decrease |
| Housing units | 1,190 (±58) | 1,103 (±193) | −7.3% | Not a measurable change |
| Median home value | $611,900 (±$61,334) | $774,900 (±$70,276) | +26.6% | No measurable change after inflation |
| Median household income | $161,607 (±$24,388) | $194,079 (±$33,148) | +20.1% | No measurable change after inflation |
| Median owner cost with a mortgage | $3,244 (±$522) | $3,244 (±$311) | 0.0% | Down after inflation |
| Median real estate taxes | $8,390 (±$774) | $9,379 (±$1,157) | +11.8% | No measurable change after inflation |
| Households that rent | 6.7% (±3.7 points) | 1.8% (±1.8 points) | −4.9 percentage points | Measurable decrease |
| Rental vacancy rate | 0.0% (±27.4 points) | 0.0% (±65.4 points) | 0.0 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Crime reported to police in Franklin
In 2025, the Franklin Police Department reported 127 violent and 696 property crimes per 100,000 residents to the FBI.
Across Oakland County, the departments that report recorded 178 violent and 789 property crimes per 100,000 residents that year.
ZIP codes in Franklin
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 48025 | 33% | 14,734 | $2,112 | $544,500 | $185,000 |
A ZIP code is a mail route rather than a boundary, so the Census Bureau publishes figures for ZIP Code Tabulation Areas built from census blocks; the share column says how much of each one’s land lies in this place.
Places near Franklin
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Bingham Farms | 1.3 mi | $3,500 or more | $580,500 | 3.1% |
| Beverly Hills | 3.2 mi | $2,077 | $511,000 | 5.2% |
| Southfield | 3.8 mi | $1,340 | $236,200 | 46.6% |
| Lathrup Village | 4.3 mi | $1,483 | $310,600 | 7.9% |
| Bloomfield Charter Township | 4.3 mi | $1,574 | $604,800 | 12.1% |
| Farmington Hills | 4.4 mi | $1,551 | $354,500 | 35.3% |
| Birmingham | 4.8 mi | $1,902 | $698,300 | 22.9% |
| Bloomfield Hills | 5.2 mi | $3,500 or more | $947,900 | 14.2% |
HUD Fair Market Rent for Franklin, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,047 | $1,167 | $1,459 | $1,777 | $1,929 |
HUD also publishes a Small Area Fair Market Rent for each ZIP code in the area; the Fair Market Rent page for this place lists its ZIP codes.
HUD income limits for Franklin, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $22,050 | $36,700 | $58,700 |
| 2 people | $25,200 | $41,950 | $67,100 |
| 3 people | $28,350 | $47,200 | $75,500 |
| 4 people | $33,000 | $52,400 | $83,850 |
| 5 people | $38,680 | $56,600 | $90,600 |
| 6 people | $44,360 | $60,800 | $97,300 |
| 7 people | $50,040 | $65,000 | $104,000 |
| 8 people | $55,720 | $69,200 | $110,700 |
These are the limits HUD sets for its housing programs in the Detroit-Warren-Livonia, MI HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $104,800.
A program can use its own limits; tax-credit and local programs often do.
Franklin lies inside Southfield Township, whose figures include it, so it is ranked only against places like it.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Franklin
What is the median household income in Franklin?
The median household income in Franklin is $194,079 (±$33,148) a year (2020–2024 American Community Survey).
What is the average home value in Franklin, MI?
The Census Bureau publishes the median: $774,900 (±$70,276) for owner-occupied homes in Franklin (2020–2024 American Community Survey).
What is the average mortgage payment in Franklin?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Franklin, MI is $3,244 (±$311) a month, including taxes, insurance and utilities.
How much are property taxes in Franklin?
The median real estate tax paid by homeowners in Franklin, MI is $9,379 (±$1,157) a year (2020–2024 American Community Survey).
How many homes are in Franklin?
Franklin, MI has an estimated 1,103 (±193) housing units, occupied and vacant (2020–2024 American Community Survey).
How old are most homes in Franklin?
76.8% of homes in Franklin, MI were built before 1980 (2020–2024 American Community Survey).
Is Franklin growing?
In Franklin, the number of residents went from 3,310 in 2015–2019 to 2,554 in 2020–2024 (−22.8%), a measurable decrease.
What ZIP codes are in Franklin?
The ZIP code that covers Franklin is 48025.
What is the median rent in ZIP code 48025?
The median gross rent in ZIP Code Tabulation Area 48025 is $2,112 (±$421) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Franklin village, Michigan
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Franklin village, Michigan
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Franklin village, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Franklin village, Michigan
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Franklin village, Michigan
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Franklin village, Michigan
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Franklin village, Michigan
- HUD Fair Market Rents, fiscal year 2027: Detroit-Warren-Livonia, MI HUD Metro FMR Area
- HUD Small Area Fair Market Rents, fiscal year 2027
- HUD Income Limits, fiscal year 2026: Detroit-Warren-Livonia, MI HUD Metro FMR Area
- US Census Bureau, American Community Survey 2020–2024 5-year estimates for ZIP Code Tabulation Areas
- FBI Uniform Crime Reporting Program, Crime Data Explorer: Franklin Police Department (ORI MI6340800)
- FBI: Uniform Crime Reporting statistics and their proper use
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Franklin village, Michigan (place:30340, in state:26).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .