Franklin Square, New York Income Statistics
Franklin Square Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Franklin Square Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Franklin Square | New York Avg | US Average |
|---|---|---|---|
| Median Household Income | $137,510 | $86,556 | $80,455 |
| Median Personal Income | $80,643 | $70,316 | $60,758 |
| Average Yearly Income Growth | 4.7% | 4.5% | 4.8% |
| Six-Figure Earners | 21.1% | 16.7% | 13.9% |
| $200k+ Households | 29.6% | 17.1% | 13.2% |
The median household income in Franklin Square is about 59% higher than in New York. Income has been growing faster in Franklin Square (4.7%/yr) than in New York (4.5%/yr).
About 21% of adults in Franklin Square earn six figures ($100,000 or more) a year, higher than the New York average of 17%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Franklin Square, New York grew by 70.1% from 2009 to 2024, reaching $137,510 in 2024. That's an average of about 4.7% per year.
Income Inequality and the Gender Pay Gap in Franklin Square
| Metric | Franklin Square | New York Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.528 | 0.557 | 0.552 |
| Male Median Income | $85,870 | $77,531 | $69,667 |
| Female Median Income | $85,508 | $67,892 | $56,850 |
| Gender Pay Gap | 0.4% | 12.4% | 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 Square, it is 0.528, lower than New York's 0.557, 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 0% more than women's income in Franklin Square, New York.
Income by Sex Over Time
Since 2009, the income gap between men and women in Franklin Square, New York has narrowed from about 25% to 0% in 2024. Over that period the gap was widest at 38% in 2014. In dollar terms, the gap has narrowed by $14,513 since 2009.
Employment
| Metric | Franklin Square | New York Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.6% | 6.4% | 5.2% |
| Working from Home | 11.5% | 15.0% | 15.0% |
| Commute time (minutes) | 30 | 28 | 22 |
Approximately 961 people are unemployed in Franklin Square, New York.
The average commute time in Franklin Square is 30 minutes, longer than the 28 minutes in New York.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Franklin Square, New York has fallen from 6.3% to 5.6% in 2024. Over that period the rate peaked at 8.5% in 2015 and fell as low as 3.4% in 2021.
Conclusion
Considering all these factors, Franklin Square, New York has an overall wealth index grade of B, making it somewhat better than New York, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Franklin Square, New York.
How Rich Is Franklin Square, New York?
Franklin Square has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $137,510, about 59% higher than the New York average of $86,556.
Are incomes growing in Franklin Square, New York?
Between 2009 and 2024, the median household income in Franklin Square, New York rose 70%, from $80,818 to $137,510. Over the same years, income here outpaced New York as a whole: +70% against +56%.
What was the median household income in Franklin Square in 2023?
In 2023, the median household income in Franklin Square, New York was $136,174, about the same as in 2022. The New York median that year was $85,199.
What was the median household income in Franklin Square in 2020?
In 2020, the median household income in Franklin Square, New York was $114,207. By 2024 it had risen 20% to $137,510.
What is the Gini coefficient in Franklin Square, New York?
The Gini coefficient in Franklin Square is 0.528. 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 Square, New York?
Since 2009, the income gap between men and women in Franklin Square, New York has narrowed from about 25% to 0% in 2024. Over that period the gap was widest at 38% in 2014. In dollar terms, the gap has narrowed by $14,513 since 2009.
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