Franklin, Wisconsin Income Statistics
Franklin 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 Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Franklin | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Household Income | $105,410 | $77,698 | $80,455 |
| Median Personal Income | $76,247 | $59,261 | $60,758 |
| Average Yearly Income Growth | 4.7% | 4.4% | 4.8% |
| Six-Figure Earners | 18.6% | 11.4% | 13.9% |
| $200k+ Households | 17.5% | 9.2% | 13.2% |
The median household income in Franklin is about 36% higher than in Wisconsin. Income has been growing faster in Franklin (4.7%/yr) than in Wisconsin (4.4%/yr).
About 19% of adults in Franklin earn six figures ($100,000 or more) a year, higher than the Wisconsin average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Franklin, Wisconsin grew by 41.6% from 2009 to 2024, reaching $105,410 in 2024. That's an average of about 4.7% per year.
Income Inequality and the Gender Pay Gap in Franklin
| Metric | Franklin | Wisconsin Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.508 | 0.503 | 0.552 |
| Male Median Income | $91,826 | $67,892 | $69,667 |
| Female Median Income | $70,371 | $54,788 | $56,850 |
| Gender Pay Gap | 23.4% | 19.3% | 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, it is 0.508, higher than Wisconsin's 0.503, so income is less 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 30% more than women's income in Franklin, Wisconsin. Over a 35-year career, a 30% wage gap accumulates to roughly $750,925 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Franklin, Wisconsin has widened from about 18% to 23% in 2024. Over that period the gap was widest at 28% in 2022. In dollar terms, the gap has widened by $9,994 since 2009.
Sharply against the trend: the pay gap in Franklin widened by 4.9 points while Wisconsin's narrowed by 6.3 points.
Employment
| Metric | Franklin | Wisconsin Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.4% | 3.2% | 5.2% |
| Working from Home | 16.0% | 13.1% | 15.0% |
| Commute time (minutes) | 22 | 18 | 22 |
Approximately 609 people are unemployed in Franklin, Wisconsin.
The average commute time in Franklin is 22 minutes, longer than the 18 minutes in Wisconsin.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Franklin, Wisconsin has fallen from 4.9% to 3.4% in 2024. Over that period the rate peaked at 5.6% in 2013 and fell as low as 3.1% in 2015.
Franklin, WI Wealth Compared With Nearby Cities
How Franklin, WI compares with the 2 cities closest to it.
| 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, WI | 35,891 | $105,410 #1/3 | 4.7%/yr #1/3 | 3.4% #3/3 | 0.508 #3/3 |
| Greenfield, WI | 37,199 | $71,643 | 3.9%/yr | 2.4% | 0.468 |
| Oak Creek, WI | 36,158 | $96,067 | 4.2%/yr | 1.3% | 0.470 |
Conclusion
Considering all these factors, Franklin, Wisconsin has an overall wealth index grade of B, making it somewhat better than Wisconsin, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Franklin, Wisconsin.
How Rich Is Franklin, Wisconsin?
Franklin 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 $105,410, about 36% higher than the Wisconsin average of $77,698.
How fast is household income rising in Franklin, Wisconsin?
Between 2009 and 2024, the median household income in Franklin, Wisconsin rose 42%, from $74,439 to $105,410. Over the same years, income here lagged behind Wisconsin as a whole: +42% against +50%.
What was the median household income in Franklin in 2023?
In 2023, the median household income in Franklin, Wisconsin was $106,087, up 6% from $100,357 in 2022. The Wisconsin median that year was $75,781.
What was the median household income in Franklin in 2020?
In 2020, the median household income in Franklin, Wisconsin was $83,475. By 2024 it had risen 26% to $105,410.
Is Franklin, Wisconsin a high-income area?
Yes. 19% of adults in Franklin, Wisconsin earn $100,000 or more a year (about 1 in 5), against 11% (about 1 in 9) in Wisconsin. 18% of households have a combined income of $200,000 or more, compared with 9% in Wisconsin.
What is the Gini coefficient in Franklin, Wisconsin?
The Gini coefficient in Franklin is 0.508. 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, Wisconsin?
Since 2009, the income gap between men and women in Franklin, Wisconsin has widened from about 18% to 23% in 2024. Over that period the gap was widest at 28% in 2022. In dollar terms, the gap has widened by $9,994 since 2009.
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