The U.S. Census Bureau released data June 21, 2023, showing America is getting older and that’s true in Williamson County as well, where the median age went from 39.5 years old in 2020 to 40.4 in 2022. The median age for women went from 40.1 in 2020 to 41.0 in 2022, while men’s median age increased from 38.9 in 2020 to 39.9 in 2022.
In terms of cumulative rate of growth, Franklin was 90th in the ranking of cities with a population of 50,000 or more in 2020, growing at 4%, increasing from 83,547 in 2020 to 86,895 in 2022.

Coming in higher than Franklin were City of Spring Hill at 10.1%, Smyrna at 6.5%, Murfreesboro at 6.3%, and Clarksville at 6.1%.

In annual growth from July 1, 2021, to July 1, 2022, Franklin was 161st in the country at a rate of 1.3% change, from a population of 85,804 to 86,895. Murfreesboro (33rd) at 3.7%, Clarksville, (35th) at 3.5%, and Spring Hill (43rd) at 3.1%. As a side, Johnson City, Smyrna, and Chattanooga had higher percent changes than Franklin.

In a recent workshop with the Franklin Board of Mayor and Aldermen and the Municipal Planning Commission, one of the City’s consultants surprised City leaders when she said 57 percent of  of all  households in Franklin have
only one or two people.

Additionally, she said Franklin’s fastest growing sector in population are those 54-85, with that sector expected to change 48 percent during the period of 2010-2026. Conversely, the 25-54 population sector is expected to decrease by 14 percent during the same time period.

There has been a 9 percent growth rate in the median income in Franklin to $100,165, up from $91,786 in 2015. The median home value increased 41 percent during the same time period from $359,000 in 2015 to $611,600 in 2021, according to data from the American Community Survey, which is an arm of the U.S. Census Bureau.

The median rent in Franklin in 2023 is $2,900, according to the report, and there is a 95 percent rental occupancy rate in Franklin. The median rental rate grew 28 percent between 2015 and 2021, topping even that number in 2023.

During the workshop, the consultant, Deborah Myerson of Myerson Consulting, suggested officials consider:

  • Housing strategies which include prioritizing walkable, human scale building form by diversifying housing types, especially for the missing middle type of housing;
  • Encouraging housing supply that aligns with demographic and market trends by encouraging more senior-friendly options, such as accessory dwelling units, duplexes, and cottage cluster homes;
  • Update the Envision Franklin land use plan’s design concept to add duplexes as secondary uses in the single-family design concept, redefine multi-family residential to distinguish scales within this category, and to allow for a mix of multi-family residential dwelling types in regional commerce;
  • and finally, Create a connected community by increasing ways for people to travel without their cars, maximize walkability with safety, comfort and nearby destinations, and to remember the ratio for “rooftops to retail” is that 1,000 homes are needed to support nearby small businesses.

The June 12 workshop is available to view in its entirety through the City’s website.