Indiana · GEOID 18047

Franklin County

2024 ACS 5-year estimates · population 23,020 · 9,796 housing units

Median household income

$78,074

State $73,272

Median home value

$249,500

State $222,483

Median gross rent

$870

State $1,072

Homeownership rate

81.5%

State 70.6%

Renter cost-burden rate

40.3%

≥30% of income

Owner cost-burden rate

15.7%

≥30% of income

Homeowner vacancy

0.3%

Of owner-occupied + for-sale units

Rental vacancy

1.4%

Of renter-occupied + for-rent units

Overall vacancy

6.0%

All housing units

Price-to-income ratio

3.20

Affordable: 2.0–3.0

Section 1

Community Profile

Population, demographics, household composition, and income.

Community Data Summary

	Franklin County	Indiana
Population	23,020	6,851,073
Population density (per sq. mi.)	59.88	—
Median household income	$78,074	$73,272
HUD Area Median Income (4-person, 100%)	$97,400	—
Households	9,211	—
Average household size	2.48 people	—
Owner-occupied	81.5%	70.6%
Renter-occupied	18.5%	29.4%
Race	95.9% White · 0.1% Black	0.0% White · 0.0% Black

Source: ACS 5-year 2024 (Tables DP05, S1101, DP04, S1901) and Census Gazetteer (land area); HUD FY2026 Income Limits.

Racial composition

Franklin County compared with Indiana.

Source: ACS 5-year 2024, Table DP05.

Educational attainment (population 25+)

19.5% hold a bachelor's degree or higher (state: 29.5%).

Source: ACS 5-year 2024, Table S1501.

Median Household Income by Tenure

Owner-occupied vs. renter-occupied household income, county and state.

Source: ACS 5-year 2024, Table B25119.

Median Household Income by Age of Householder

Median household income by age group of householder.

Source: ACS 5-year 2024, Table B19049.

Median Household Income by Number of Earners

Median household income for families with each earner count.

Source: ACS 5-year 2024, Table S1903.

Household Size

Distribution of households by number of people.

Source: ACS 5-year 2024, Table S2501.

Income by Number of Earners

Earners	Share	Median income	Attainable monthly housing cost	Attainable home
0 earners	16.1%	$58,237	$1,456	$185,758
1 earner	30.0%	$57,424	$1,436	$182,732
2 earners	42.5%	$115,541	$2,889	$399,063
3+ earners	11.4%	$143,814	$3,595	$504,305

Attainable monthly housing cost = 30% of gross income ÷ 12. Attainable home price assumes 30% housing budget, 30-yr mortgage at 7%, 5% down.

Source: ACS 5-year 2024, Table S1903; affordability formula derived.

Households

9,211

Average size: 2.48 people

Households with children

2,231

24.2% of households

Per-capita income

$40,060

Poverty rate: 6.3%

Section 2

Residential Market Analysis

Housing stock characteristics — tenure, type, age, size, vacancy, rents.

Tenure

81.5% owner-occupied vs. state average 70.6%.

Source: ACS 5-year 2024, Table DP04.

Structure type

Single-family share 80.8% · Missing middle (2–19 units) 5.6%.

Source: ACS 5-year 2024, Table B25024.

Housing stock by decade

49.0% built before 1980 · Median structure age 1,981.00 yrs.

Source: ACS 5-year 2024, Table S2504.

Housing size mismatch

Compares the share of housing units by bedroom count against the share of households by size — a common diagnostic of housing supply/demand alignment.

Source: ACS 5-year 2024, Tables B25041 (bedrooms) and S2501 (household size).

Home value distribution

Owner-occupied homes by value bracket. Median: $249,500.

Source: ACS 5-year 2024, Table DP04.

Monthly Housing Costs

Distribution of monthly housing costs across all occupied units.

Source: ACS 5-year 2024, Table B25104.

Number of Bedrooms

Housing units by number of bedrooms.

Source: ACS 5-year 2024, Table B25041.

Median rent by bedroom

Overall median gross rent: $870.

Source: ACS 5-year 2024, Table B25031.

Renters by age

Number of renter householders by age bracket.

Source: ACS 5-year 2024, Table S2502.

Owners by age

Number of owner householders by age bracket.

Source: ACS 5-year 2024, Table S2502.

Vacancy composition

All 585 vacant units split into Census's seven categories. Frictional vacancy (units actively on the market) reflects healthy churn. Structural vacancy (seasonal, migrant, other) sits outside the market for year-round residents — high values change how the headline vacancy rate should be read.

Vacant units by type

For sale 4.4% · For rent 4.1% · Seasonal 64.1% · Other 26.7%.

Source: ACS 5-year 2024, Table B25004.

Frictional vs structural

9.2% of vacancy is frictional (for sale + for rent + rented/sold not yet occupied); 90.8% is structural (seasonal + migrant + other).

Source: ACS 5-year 2024, Table B25004.

Seasonal / recreational share of all housing

3.8%

375 units of 9,796 total

Housing units held for seasonal or recreational use.

"Other vacant" share of all housing

1.6%

156 units of 9,796 total

Census "Other vacant" — units off the market for reasons other than seasonal, migrant, sale, or rental.

Section 3

Workforce Housing Needs Assessment

Affordability, cost burden, and the housing options for households in the workforce income range.

Workforce range — ACS median household income

80% MHI$62,459

100% MHI$78,074

120% MHI$93,689

County-wide median from ACS 5-year estimates. A household at 100% MHI in Franklin County should be able to afford a home up to roughly — (30% housing budget, default mortgage terms).

Workforce range — HUD Area Median Income

	1-person	2-person	4-person
80% AMI	$54,550	$62,350	$77,900
100% AMI	$68,180	$77,920	$97,400
120% AMI	$81,800	$93,500	$116,900

HUD FMR Area: Franklin County, IN HUD Metro FMR Area. 80% AMI uses HUD's published Section 8 Low Income Limits; 100% is HUD MFI; 120% is the standard workforce convention.

Affordability calculator

Follows the standard 30%-of-gross-income affordability rule.

Income basis Household income Interest rate % Down payment % Taxes & insurance / yr

Affordable monthly—

Affordable home price—

Renter cost burden

40.3% of renter households spend ≥30% of income on rent (26.1% spend ≥50%).

Source: ACS 5-year 2024, Table B25070.

Owner cost burden by income

15.7% of homeowners spend ≥30% of income on housing. Bars show counts of cost-burdened owners by income bracket.

Source: ACS 5-year 2024, Table B25106.

Household income — owners vs renters

Distribution of household income for owner-occupied (navy) and renter-occupied (gold) households.

Source: ACS 5-year 2024, Table B25118.

Section 4

Industry & Workforce Wages

Employment, average wages, and the housing each industry's typical earner can afford in Franklin County.

Covered employment

3,333

Across 17 sectors

Establishments

302

QCEW 2024

Avg annual pay (workforce)

$48,002

Employment-weighted across sectors

Top 10 sectors by employment

Annual average employment by NAICS 2-digit sector. Counties with fewer than five covered establishments in a sector may show suppressed totals.

Source: BLS QCEW Annual Averages, 2024.

Attainable housing by industry

Industry	Employment	Avg annual wage	Affordable home price	vs. median value	Affordable monthly rent
NAICS 61 Educational services NAICS 61	658	$42,001	$125,322	−$124,178	$1,050
NAICS 44-45 Retail trade NAICS 44-45	548	$31,892	$87,693	−$161,807	$797
NAICS 62 Health care and social assistance NAICS 62	495	$42,296	$126,421	−$123,079	$1,057
NAICS 31-33 Manufacturing NAICS 31-33	327	$70,992	$233,237	−$16,263	$1,775
NAICS 92 Public administration NAICS 92	307	$35,730	$101,980	−$147,520	$893
NAICS 42 Wholesale trade NAICS 42	257	$84,329	$282,882	+$33,382	$2,108
NAICS 23 Construction NAICS 23	247	$55,964	$177,297	−$72,203	$1,399
NAICS 56 Administrative and support and waste management and remediation services NAICS 56	209	$47,880	$147,206	−$102,294	$1,197
NAICS 52 Finance and insurance NAICS 52	160	$56,854	$180,610	−$68,890	$1,421
NAICS 11 Agriculture, forestry, fishing and hunting NAICS 11	32	$37,252	$107,645	−$141,855	$931
NAICS 48-49 Transportation and warehousing NAICS 48-49	30	$63,236	$204,366	−$45,134	$1,581
NAICS 51 Information NAICS 51	26	$21,481	$48,940	−$200,560	$537
NAICS 21 Mining, quarrying, and oil and gas extraction NAICS 21	20	$40,554	$119,936	−$129,564	$1,014
NAICS 54 Professional, scientific, and technical services NAICS 54	7	$67,789	$221,314	−$28,186	$1,695
NAICS 53 Real estate and rental and leasing NAICS 53	5	$17,654	$34,695	−$214,805	$441
NAICS 71 Arts, entertainment, and recreation NAICS 71	3	$41,109	$122,002	−$127,498	$1,028
NAICS 22 Utilities NAICS 22	2	$6,810	$0	−$249,500	$170

Subsector	Employment	Avg annual wage	Affordable home price	vs. median value	Affordable monthly rent
NAICS 611 Educational services NAICS 611	658	$42,001	$125,322	−$124,178	$1,050
NAICS 722 Food services and drinking places NAICS 722	395	$19,585	$41,883	−$207,617	$490
NAICS 621 Ambulatory health care services NAICS 621	343	$48,005	$147,671	−$101,829	$1,200
NAICS 445 Food and beverage retailers NAICS 445	239	$31,071	$84,637	−$164,863	$777
NAICS 921 Executive, legislative, and other general government support NAICS 921	211	$35,040	$99,411	−$150,089	$876
NAICS 561 Administrative and support services NAICS 561	209	$47,880	$147,206	−$102,294	$1,197
NAICS 522 Credit intermediation and related activities NAICS 522	145	$56,755	$180,242	−$69,258	$1,419
NAICS 424 Merchant wholesalers, nondurable goods NAICS 424	143	$55,200	$174,454	−$75,046	$1,380
NAICS 238 Specialty trade contractors NAICS 238	136	$47,901	$147,284	−$102,216	$1,198
NAICS 423 Merchant wholesalers, durable goods NAICS 423	114	$120,867	$418,888	+$169,388	$3,022
NAICS 237 Heavy and civil engineering construction NAICS 237	81	$76,035	$252,009	+$2,509	$1,901
NAICS 924 Administration of environmental quality programs NAICS 924	65	$29,076	$77,211	−$172,289	$727
NAICS 441 Motor vehicle and parts dealers NAICS 441	63	$40,423	$119,449	−$130,051	$1,011
NAICS 484 Truck transportation NAICS 484	60	$59,964	$192,187	−$57,313	$1,499
NAICS 811 Repair and maintenance NAICS 811	59	$36,064	$103,223	−$146,277	$902
NAICS 812 Personal and laundry services NAICS 812	47	$21,230	$48,006	−$201,494	$531
NAICS 455 General merchandise retailers NAICS 455	44	$19,761	$42,538	−$206,962	$494
NAICS 444 Building material and garden equipment and supplies dealers NAICS 444	41	$30,448	$82,318	−$167,182	$761
NAICS 457 Gasoline stations and fuel dealers NAICS 457	41	$22,334	$52,115	−$197,385	$558
NAICS 485 Transit and ground passenger transportation NAICS 485	34	$22,490	$52,696	−$196,804	$562
NAICS 491 Postal service NAICS 491	30	$63,236	$204,366	−$45,134	$1,581
NAICS 236 Construction of buildings NAICS 236	30	$38,327	$111,647	−$137,853	$958
NAICS 449 Furniture, home furnishings, electronics, and appliance retailers NAICS 449	30	$34,692	$98,116	−$151,384	$867
NAICS 519 Web search portals, libraries, archives, and other information services NAICS 519	26	$21,481	$48,940	−$200,560	$537
NAICS 212 Mining (except oil and gas) NAICS 212	20	$40,554	$119,936	−$129,564	$1,014
NAICS 926 Administration of economic programs NAICS 926	19	$48,141	$148,178	−$101,322	$1,204
NAICS 459 Sporting goods, hobby, musical instrument, book, and miscellaneous retailers NAICS 459	15	$26,528	$67,727	−$181,773	$663
NAICS 524 Insurance carriers and related activities NAICS 524	15	$57,811	$184,173	−$65,327	$1,445
NAICS 923 Administration of human resource programs NAICS 923	12	$64,262	$208,185	−$41,315	$1,607
NAICS 541 Professional, scientific, and technical services NAICS 541	7	$67,789	$221,314	−$28,186	$1,695
NAICS 712 Museums, historical sites, and similar institutions NAICS 712	3	$41,109	$122,002	−$127,498	$1,028
NAICS 221 Utilities NAICS 221	2	$6,810	$0	−$249,500	$170

Affordable home price assumes the industry's average earner uses 30% of gross income for housing, with a 30-year mortgage at 7%, 5% down, $2,500/yr taxes & insurance, and 0.5% PMI. Adjust the Section 3 calculator for other terms. Affordable rent is 30% of monthly gross pay.

Source: BLS QCEW Annual Averages, 2024; ACS 5-year 2024 (median home value).

Section 5

Wages by Occupation

Selected essential-worker occupations for the MSA or nonmetropolitan area containing this county — jobs, the 10-year change, wages, and the housing each typical earner can afford. Both jobs counts and wages are reported at the MSA / nonmetropolitan-area level (BLS does not publish OEWS at the county level), so every county inside the same area shows the same numbers. For county-accurate employment totals, see Section 4 above.

Occupational wages and affordable housing

Occupation	2025 jobs	2015–2025 change	% change	Hourly wage	Annual wage	Affordable home price	Affordable monthly rent
Fast Food and Counter Workers SOC 35-3023 · prior-year code differs	30,950	(4,010)	(11%)	$14.45	$30,050	$80,837	$751
Cashiers SOC 41-2011	19,580	(1,200)	(6%)	$14.76	$30,690	$83,219	$767
Childcare Workers SOC 39-9011	2,390	(2,800)	(54%)	$15.46	$32,160	$88,691	$804
Retail Salespersons SOC 41-2031	28,670	(1,190)	(4%)	$16.70	$34,730	$98,257	$868
Janitors and Cleaners SOC 37-2011	13,560	(2,680)	(17%)	$18.18	$37,800	$109,685	$945
Home Health and Personal Care Aides SOC 31-1131 · prior-year code differs	11,390	(8,180)	(42%)	$20.17	$41,950	$125,133	$1,049
Tellers SOC 43-3071	3,170	(530)	(14%)	$21.50	$44,730	$135,481	$1,118
Waiters and Waitresses SOC 35-3031	17,790	(2,120)	(11%)	$21.51	$44,740	$135,518	$1,119
Office Clerks, General SOC 43-9061	16,750	760	5%	$22.06	$45,890	$139,799	$1,147
Paramedics SOC 29-2043 · prior-year code differs	650	(1,380)	(68%)	$25.74	$53,540	$168,275	$1,339
Maintenance and Repair Workers, General SOC 49-9071	12,140	2,470	26%	$26.91	$55,970	$177,320	$1,399
Firefighters SOC 33-2011	3,380	(580)	(15%)	$27.65	$57,510	$183,052	$1,438
Construction Laborers SOC 47-2061	5,700	230	4%	$27.81	$57,840	$184,281	$1,446
Carpenters SOC 47-2031	4,610	300	7%	$29.86	$62,110	$200,175	$1,553
Heavy and Tractor-Trailer Truck Drivers SOC 53-3032	13,820	1,460	12%	$30.37	$63,170	$204,121	$1,579
Electricians SOC 47-2111	5,640	1,410	33%	$32.13	$66,830	$217,744	$1,671
Plumbers, Pipefitters, and Steamfitters SOC 47-2152	3,640	890	32%	$33.93	$70,570	$231,666	$1,764
Elementary School Teachers, Except Special Education SOC 25-2021	9,150	(920)	(9%)	—	$71,030	$233,378	$1,776
Police and Sheriff's Patrol Officers SOC 33-3051	3,900	(60)	(2%)	$38.20	$79,450	$264,720	$1,986
Registered Nurses SOC 29-1141	28,520	4,810	20%	$43.24	$89,940	$303,768	$2,249

Affordable home price uses the same Section 3 formula (30% housing budget, 30-year mortgage at 7%, 5% down, $2,500/yr T&I, 0.5% PMI). Affordable rent is 30% of monthly wages. Negative job-change values are shown in red parentheses. A "prior-year code differs" note flags occupations whose SOC code changed between the two vintages (2010 SOC → 2018 SOC) — the change estimate is best-effort.

Source: BLS OEWS May 2025 (10-year change vs. May 2015). Jobs counts and wages reflect the MSA or nonmetropolitan area containing this county, not the county alone — OEWS is not published at the county level.

Methodology & sources

All figures derive from the 2024 American Community Survey 5-year estimates. State and national comparisons are population-weighted aggregates of county-level estimates (an approximation; ACS publishes its own state and national medians which can differ slightly).

The affordability calculator uses a 30% housing-budget rule with a 30-year mortgage. Defaults are 7% interest, 5% down, $2,500/year taxes and insurance, and 0.5% PMI — adjustable above.

Variables: 18047 · pulled from Full Housing Data Table.xlsx.