Everything You Should Know Before Moving to Franklin, MI
Considering a move to Franklin, MI? With a small-town feel and a population of just over 3,100, Franklin boasts a high median home price of $820,000 and rents averaging $2,220, reflecting its exclusive residential character. Crime rates are extremely low, and residents enjoy short 28-minute commutes, strong incomes, and exceptional educational attainment—over 73% hold bachelor’s degrees. The village offers excellent schools, nearby major hospitals, and four-season Midwest weather, making it ideal for those seeking a safe, affluent, and community-oriented lifestyle.
Demographics - Franklin, MI
Demographics - Franklin, MI
Franklin, MI is a close-knit community of around 3,150 residents, with a median age of 49.2 and a population density that supports a peaceful suburban atmosphere. The area is predominantly White (84%), with small but vibrant Black and Asian communities, and about 9% of residents speak a language other than English at home.
Population:
3,150
Density:
620 per sq mi
Median Age:
49.2
Gender Ratio:
93 males per 100 females
Non-English Speakers Percentage:
9.0%
Ethnic Composition
White:
84.2%
Black:
7.4%
Asian:
5.8%
Others:
2.6%
Cost Of Living
What is the average cost of living in Franklin, MI?
Living in Franklin comes with a high cost of living, driven by a median home value of $820,000 and average rents of $2,220 per month. The area’s cost of living index stands at 140.2, well above the national average, reflecting premium housing, utilities, and transportation expenses.
Median House Value:
$820,000
Gross Rent:
$2,220
Monthly Electricity Charges:
$120
Auto Insurance:
$2,050
House Owner Cost With Mortgage:
$3,100
House Owner Cost Without Mortgage:
$1,200
State Taxes:
Low:
4.25%
|
High:
4.25%
Cost Of Living Index:
140.2
Grocery:
108.5
Housing:
197.0
Utilities:
102.3
Transportation:
110.1
Health Care:
96.7
Miscellaneous:
101.3
Crime
Is Franklin, MI a safe place to live?
Franklin is considered exceptionally safe, with violent crime rates as low as 38 per 100,000 residents and property crime at 240 per 100,000. Residents face a low chance of experiencing crime, making it an attractive choice for those prioritizing safety.
Violent Crimes Per 100k:
38
Property Crimes Per 100k:
240
Crime Index:
278
Chance Of Violent Crime:
1 in 2,630
Chance Of Property Crime:
1 in 415
Weather
What is the weather like in Franklin, MI year-round?
Franklin experiences four distinct seasons, with warm summers reaching highs of 83°F and cold winters dropping to 18°F. The village receives about 32.5 inches of annual rainfall and enjoys sunshine on roughly 49% of days, offering a classic Midwest climate.
Winter
Min:
18°F
Max:
33°F
Spring
Min:
39°F
Max:
65°F
Summer
Min:
62°F
Max:
83°F
Fall
Min:
43°F
Max:
67°F
Average Rainfall Inches:
32.5 inches
Sunny Days Percentage:
49%
Neighbors
Franklin is an affluent area where the median household income is $185,500 and the poverty rate is just 2.3%. Residents are highly educated, with 98% holding at least a high school diploma and most commutes averaging under half an hour.
Median Income:
$83,000
Household Income:
$185,500
Family Income:
$210,000
Per Capita Income:
$92,000
Income Male:
$110,000
Income Female:
$72,000
Poverty Rate:
2.3%
Non English Speakers:
9.0%
Rent:
$2,220
Unemployment Rate:
2.7%
Public Transport Usage:
1.1%
Commute Time:
28.5 minutes
Education
High School or Higher:
98.0%
Bachelors or More:
73.1%
Education
How are the schools in Franklin, MI?
Franklin provides access to excellent public and private schools, including Groves High School and Beverly Elementary, as well as proximity to higher education institutions like Oakland Community College and Wayne State University. The community supports strong educational attainment, with over 73% of residents holding a bachelor’s degree or higher.
Public Schools
Name:
Groves High School
Street:
20500 W 13 Mile Rd
Phone:
248-203-3500
Students:
1,250
Student Teacher Ratio:
17.4
Name:
Beverly Elementary School
Street:
18305 Beverly Rd
Phone:
248-203-3150
Students:
470
Student Teacher Ratio:
14.5
Private Schools
Name:
Franklin Christian School
Street:
26425 Wellington Rd
Phone:
248-626-6606
Students:
150
Colleges
Name:
Oakland Community College
City:
Farmington Hills
State:
MI
Distance:
6 miles
Students:
14,000
Name:
Wayne State University
City:
Detroit
State:
MI
Distance:
21 miles
Students:
26,000
Healthcare
Access to healthcare is strong, with major hospitals like Beaumont Hospital and Henry Ford West Bloomfield nearby and nearly 98% of residents having health insurance. The area offers about 3 physicians per 1,000 people, ensuring comprehensive medical coverage.
Major Hospitals
Name:
Beaumont Hospital, Royal Oak
Address:
3601 W 13 Mile Rd, Royal Oak, MI 48073
Phone:
(248) 898-5000
Type:
General & Surgical
Emergency Services:
Yes
Name:
Henry Ford West Bloomfield Hospital
Address:
6777 W Maple Rd, West Bloomfield Township, MI 48322
Phone:
(248) 661-4100
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
3.0
Health Insurance Coverage:
97.6%
Health Care Index:
78.2
Housing Market
What is the housing market like in Franklin, MI?
Franklin’s housing market is characterized by high home values, with the median price at $820,000 and owner occupancy rates above 96%. Home values have appreciated by over 5% in the last year, and the area maintains low foreclosure and vacancy rates.
Median Home Price:
$820,000
Average Rent For 2 Bedroom:
$2,220
Owner Occupied Rate:
96.7%
Rental Vacancy Rate:
5.9%
Home Appreciation Rate (1yr):
5.1%
New Construction Rate:
1.1%
Foreclosure Rate:
0.3%
DMV Information
Residents use the Michigan Secretary of State office in Waterford for vehicle and licensing needs, offering convenient access to standard DMV services both in person and online.
State:
Michigan
Department:
Michigan Secretary of State
Address:
7064 Highland Rd, Waterford, MI 48327
Phone:
1-888-767-6424
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.