1st Advantage MortgageIn Franklin County, Florida, the typical household earns $64,105 a year and the typical rent is $1,049. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Florida license first.
On this page
- A quick profile of Franklin County
- Income in Franklin County compared with Florida
- Renting and owning in Franklin County
- The Franklin County job picture
- The counties around Franklin County
- Places inside Franklin County
- More Franklin County figures
- What the numbers mean for Franklin County borrowers
- A Franklin County household budget, worked through
- Checking a lender's license in Florida
- Four steps for Franklin County borrowers
- Nearby and statewide guides
- Frequently asked questions
A quick profile of Franklin County
Franklin County is home to about 12,553 people, according to the Census Bureau's 2020 to 2024 American Community Survey, which makes it the 65th most populous of 67 county-level areas in Florida. It covers 545 square miles of land, or about 23 people per square mile. No metropolitan area includes Franklin County in the 2023 federal delineation, so its numbers stand on their own rather than as part of a metro. Of the 4 Census places inside Franklin County, Eastpoint leads by population with about 3,163; 2 of the 4 are incorporated.
Income in Franklin County compared with Florida
At $64,105, the typical Franklin County household income is 2% below the median U.S. county ($65,681).
| Household income | Franklin County | vs Florida |
|---|---|---|
| Under $35,000 | 28.0% | +5.7 pts |
| $35,000 to $99,999 | 42.6% | +1.5 pts |
| $100,000 to $199,999 | 21.0% | -4.6 pts |
| $200,000 or more | 8.4% | -2.6 pts |
About 28% of households earn under $35,000, while 29% clear $100,000. The poverty rate is 16.5%, 4 points higher than the state's 12.6%. For a borrower in Franklin County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Renting and owning in Franklin County
Renters in Franklin County pay a median of $1,049 a month, 37% below the Florida figure of $1,669. By the Census definition, 56% of Franklin County renters are cost-burdened. Home values center on $273,300, or 4.3 years of median income. Owners occupy 81% of homes. Median construction year: 1988.
| Cost | Franklin County | Florida figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $1,049/mo | $1,669/mo | $877/mo |
| Median home value | $273,300 | $359,000 | $185,300 |
| Owners | 81% | 68% | 75% |
| Rent-burdened renters | 56% | 60% | 45% |
| Burdened owners | 28% | 35% | n/a |
| Vacant units | 42% | 15% | n/a |
Because most Franklin County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral. High rent burdens leave little slack. If you are borrowing to consolidate, make sure the new payment is lower than the ones it replaces.
The Franklin County job picture
The biggest employer of Franklin County residents, by industry, is professional and administrative services at 17% of workers, followed by education and health care (16%). Compared with Florida, the county leans toward public administration (15% against 4%). ACS puts five-year average unemployment at 8.5% in Franklin County. Long commutes are the exception here: 6% of workers spend 45 minutes or longer getting to work.
| Where residents work | Franklin County | Difference from Florida |
|---|---|---|
| Professional and administrative services | 17.4% | +3.2 pts |
| Education and health care | 16.3% | -4.7 pts |
| Public administration | 14.7% | +10.4 pts |
| Retail trade | 14.1% | +2.2 pts |
| Construction | 9.9% | +1.7 pts |
| Arts, lodging and food service | 7.0% | -4.0 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Franklin County should have bank statements and tax returns ready.
The counties around Franklin County
Nearest neighbors first, measured between county centers (30 to 63 miles). Wakulla County leads the group on income ($81,895), Calhoun County trails ($50,517), and Franklin County out-earns 3 of the six.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Franklin County | - | $64,105 | $1,049/mo | 81% |
| Gulf County, FL | 30 mi | $61,179 | $1,187/mo | 81% |
| Wakulla County, FL | 40 mi | $81,895 | $1,108/mo | 82% |
| Liberty County, FL | 40 mi | $58,671 | $943/mo | 80% |
| Calhoun County, FL | 54 mi | $50,517 | $779/mo | 79% |
| Bay County, FL | 54 mi | $73,533 | $1,484/mo | 67% |
| Leon County, FL | 63 mi | $66,287 | $1,291/mo | 53% |
Places inside Franklin County
Here are the 4 most populous of the county's 4 Census places, with income and rent from the same 2020 to 2024 survey. About 73% of Franklin County residents live in one of the 4. St. George Island has the highest median household income on the list ($137,899) and Carrabelle the lowest ($49,792), counting places with at least 500 residents. Median rent ranges from $914 in Carrabelle to $1,108 in Apalachicola. No Franklin County place has a separate guide yet; this county page serves all 4.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Eastpoint | CDP | 3,163 | $68,258 | $941 | 6 mi |
| Carrabelle | city | 2,438 | $49,792 | $914 | 15 mi |
| Apalachicola | city | 2,431 | $51,875 | $1,108 | 11 mi |
| St. George Island | CDP | 1,133 | $137,899 | n/a | 5 mi |
CDP: census-designated place, an unincorporated community mapped for statistics.
More Franklin County figures
Degree holders: 28% of adults over 25. About 17% go without health insurance.
| People and households | Franklin County | Florida | Median county |
|---|---|---|---|
| Median age | 50.1 | 42.6 | 41.5 |
| Bachelor's or higher | 27.9% | 34.1% | 22.2% |
| No high school diploma | 15.6% | 10.1% | n/a |
| No health insurance | 16.7% | 11.5% | 7.8% |
| No vehicle | 8.1% | 6.0% | 5.4% |
| Work from home | 8.6% | 15.7% | 8.7% |
| Poverty rate | 16.5% | 12.6% | 13.2% |
| Unemployment (ACS) | 8.5% | 4.8% | 4.4% |
| Commute length | Franklin County |
|---|---|
| Under 15 min | 42.6% |
| 15 to 29 min | 33.8% |
| 30 to 44 min | 17.3% |
| 45 to 59 min | 2.2% |
| 60+ min | 4.2% |
What the numbers mean for Franklin County borrowers
The county's numbers point to a few situations that come up often for Franklin County borrowers.
- Uninsured care. 17% lack coverage here; nonprofit hospitals must publish an assistance policy, so ask for it first (guide).
- Repairs on manufactured housing. With 15% of homes here, compare a personal loan with any dealer or park repair program.
- Benefit income. With half of residents older than 50, lenders often see pension and Social Security income, which counts like wages.
- 56% rent-burdened. A payment on top of high rent needs a cushion; size it with the calculator.
A Franklin County household budget, worked through
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Franklin County household at the medians it works out like this; treat it as an illustration only.
- Median income divided by twelve: $5,342 before taxes
- Rent at the median, $1,049, takes 20% of that
- With a 36% ceiling, about $874 remains for car, card, student and any new loan payments
- $1,248: what a 43% ratio leaves once rent is paid
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
Checking a lender's license in Florida
No county office licenses personal lenders. For Franklin County, check the Florida Office of Financial Regulation. Problems with a lender can also go to the CFPB. See the Florida state guide for the statewide picture.
Four steps for Franklin County borrowers
Steps that save money for Franklin County residents:
- Know the exact dollar figure you need before talking to a lender.
- Compare the total repaid on every offer, not just the payment.
- Confirm the lender is licensed in Florida.
- Ask a Franklin County credit union about member loans.
Nearby and statewide guides
The Florida guide covers the whole state.
Frequently asked questions
Is Franklin County a high-income county?
Its $64,105 median ranks 39th of 67 Florida counties and compares with $65,681 for the median U.S. county.
How much is rent in Franklin County?
Median gross rent, utilities included, is $1,049 a month; 56% of renters spend 30% or more of income on it.
Should Franklin County homeowners use home equity instead?
Maybe, but weigh the risk: 81% of Franklin County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
I live in a small Franklin County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Eastpoint, Carrabelle, Apalachicola, St. George Island.
Will a Franklin County address affect my match?
Beyond confirming Florida as your state, no. Your answers about amount, credit, income and payments are all that count.