Franklin County, Kentucky Income Statistics
Franklin County Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
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C
Franklin County Below averageWealthier than 89% of counties in Kentucky
Source: Map AI Methodology
Income Statistics Overview
| Metric | Franklin County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Household Income | $67,514 | $64,312 | $80,455 |
| Median Personal Income | $51,385 | $52,849 | $60,758 |
| Average Yearly Income Growth | 3.5% | 4.6% | 4.8% |
| Six-Figure Earners | 9.0% | 8.9% | 13.9% |
| $200k+ Households | 6.1% | 7.2% | 13.2% |
The median household income in Franklin County is about 5% higher than in Kentucky. Income has been growing slower in Franklin County (3.5%/yr) than in Kentucky (4.6%/yr).
About 9% of adults in Franklin County earn six figures ($100,000 or more) a year, about the same as the Kentucky average of 9%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Franklin County, Kentucky grew by 40.0% from 2009 to 2024, reaching $67,514 in 2024. That's an average of about 3.5% per year.
Income Inequality and the Gender Pay Gap in Franklin County
| Metric | Franklin County | Kentucky Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.504 | 0.547 | 0.552 |
| Male Median Income | $57,905 | $60,966 | $69,667 |
| Female Median Income | $48,913 | $49,119 | $56,850 |
| Gender Pay Gap | 15.5% | 19.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Franklin County, it is 0.504, lower than Kentucky's 0.547, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 18% more than women's income in Franklin County, Kentucky. Over a 35-year career, a 18% wage gap accumulates to roughly $314,720 in unearned income for female workers in the area.
Income by Sex Over Time
The income gap between men and women in Franklin County, Kentucky has stayed about the same since 2009, at around 16%. Over that period the gap was widest at 20% in 2022, and was narrowest at 10% in 2018. In dollar terms, the gap has widened by $2,318 since 2009.
Employment
| Metric | Franklin County | Kentucky Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.9% | 4.8% | 5.2% |
| Working from Home | 14.2% | 10.2% | 15.0% |
| Commute time (minutes) | 16 | 20 | 22 |
Approximately 1,554 people are unemployed in Franklin County, Kentucky.
The average commute time in Franklin County is 16 minutes, shorter than the 20 minutes in Kentucky.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Franklin County, Kentucky has fallen from 8.5% to 5.9% in 2024. Over that period the rate peaked at 11.1% in 2014 and fell as low as 4.0% in 2019.
Franklin County, KY Wealth Compared With Nearby Counties
Franklin County, KY is the 2nd largest of the 6 counties compared here, 51,842 residents against a local median of 27,278. The measure that sets Franklin County, KY apart most is unemployment: 5.9%, 42% above the local median of 4.2%. That is the weaker end of the local range on this measure.
Median household income tells the same story from another angle: $67,514 against a local median of $83,715, 19% below it. Every measure here with a clear better direction points the same way, and it is the wrong way: Franklin County, KY reads weaker than its neighbours on all of them. The counties themselves spread 4.8% on unemployment, so Franklin County, KY sits at one end of an already wide local range rather than apart from it. Franklin County, KY has the 5th lowest unemployment of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Franklin County, KY | 51,842 | $67,514 #5/6 | 3.5%/yr #6/6 | 5.9% #5/6 | 0.504 #1/6 |
| Woodford County, KY | 27,278 | $83,715 | 4.4%/yr | 2.5% | 0.519 |
| Anderson County, KY | 24,353 | $74,458 | 4.3%/yr | 2.2% | 0.508 |
| Owen County, KY | 11,330 | $63,403 | 5.3%/yr | 7.0% | 0.536 |
| Scott County, KY | 59,536 | $87,024 | 3.9%/yr | 4.3% | 0.518 |
| Shelby County, KY | 49,096 | $86,215 | 4.2%/yr | 4.2% | 0.534 |
Conclusion
Considering all these factors, Franklin County, Kentucky has an overall wealth index grade of C, making it somewhat better than Kentucky, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Franklin County, Kentucky.
How Rich Is Franklin County, Kentucky?
Franklin County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $67,514, about 5% higher than the Kentucky average of $64,312.
How has median household income changed in Franklin County, Kentucky?
Between 2009 and 2024, the median household income in Franklin County, Kentucky rose 40%, from $48,216 to $67,514. Over the same years, income here lagged behind Kentucky as a whole: +40% against +56%.
What was the median household income in Franklin County in 2023?
In 2023, the median household income in Franklin County, Kentucky was $66,895, up 6% from $63,259 in 2022. The Kentucky median that year was $62,783.
What was the median household income in Franklin County in 2020?
In 2020, the median household income in Franklin County, Kentucky was $59,230. By 2024 it had risen 14% to $67,514.
What is the Gini coefficient in Franklin County, Kentucky?
The Gini coefficient in Franklin County is 0.504. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Franklin County, Kentucky?
The income gap between men and women in Franklin County, Kentucky has stayed about the same since 2009, at around 16%. Over that period the gap was widest at 20% in 2022, and was narrowest at 10% in 2018. In dollar terms, the gap has widened by $2,318 since 2009.
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