1st Advantage MortgageFranklin County (9,956 residents) has a $59,894 median household income and $696 median rent, by the latest Census five-year survey. Use those as context only. A lender looks at your own documented income and debts; compare APR and total repaid on every Franklin County offer.
On this page
- Population and place: Franklin County
- Franklin County against other Iowa counties
- Employment and commuting in Franklin County
- Housing costs in Franklin County
- Household income in Franklin County
- How Franklin County compares with nearby counties
- Census places in Franklin County
- Debt-to-income, Franklin County edition
- Local borrowing considerations for Franklin County
- More Franklin County figures
- Verifying a lender from Franklin County
- Checklist for Franklin County applicants
- Keep exploring
- Frequently asked questions
Population and place: Franklin County
Roughly 9,956 residents live in Franklin County, Iowa, 73rd by population among the state's 99 counties and county equivalents. Density: about 17.1 residents per square mile across 582 square miles of land. Metro status: none; Franklin County sits outside the 2023 OMB metro areas. The Census Bureau counts 11 places in the county (9 incorporated, 2 census-designated); the largest is Hampton, with about 4,306 residents, or 43% of the county. At 9,956 people, Franklin County is a small survey sample, so small differences in these figures may be noise.
Franklin County against other Iowa counties
Ranked against the other 98 county-level areas in Iowa, these are the Franklin County figures furthest from the middle.
- Few Iowa counties match Franklin County on the uninsured rate: 10.0% here, 5.0% for the state, ranking 5th highest of 99. Hospital payment plans are usually interest-free; compare before a loan.
- On median household income, Franklin County sits near the bottom of Iowa at $59,894, 6th lowest of 99. Where incomes run low, free assistance and credit-union small-dollar loans deserve a look first.
- The share of households earning $100,000 or more: 25% in Franklin County. Only 4 of 99 Iowa counties are lower. Few six-figure households means smaller loans are the norm.
Employment and commuting in Franklin County
By the Census industry count, 22% of employed Franklin County residents work in manufacturing and 20% in education and health care. The sharpest difference from the state is in manufacturing, at 22% locally and 15% for Iowa. Unemployment in Franklin County, ACS five-year: 3.8%; Iowa: 3.6%. Long commutes are the exception here: 8% of workers spend 45 minutes or longer getting to work. 173 Franklin County households, 4.1%, have no vehicle.
| Industry | Share of Franklin County workers | vs Iowa |
|---|---|---|
| Manufacturing | 22.2% | +7.5 pts |
| Education and health care | 19.7% | -4.5 pts |
| Retail trade | 11.0% | -0.5 pts |
| Agriculture, forestry and mining | 9.8% | +6.1 pts |
| Transportation, warehousing and utilities | 7.1% | +2.0 pts |
| Construction | 6.7% | -0.2 pts |
Shorter commutes usually mean lower vehicle costs, which can leave more room for a payment, or for paying a loan off early.
Housing costs in Franklin County
Median gross rent, utilities included, comes to $696 in Franklin County versus $972 statewide. By the Census definition, 33% of Franklin County renters are cost-burdened. With a median value of $124,100, a typical Franklin County house costs 2.1 times what the median household earns in a year. Homeowners 72%, renters 28%. Half the housing stock was built before 1954.
| Home costs | Franklin County | Iowa | Compared with Iowa |
|---|---|---|---|
| Rent-burdened renters | 33% | 44% | -10.9 pts |
| Burdened owners | 14% | 20% | -6.6 pts |
| Median home value | $124,100 | $208,000 | 40% lower |
| Median gross rent | $696/mo | $972/mo | 28% lower |
| Vacant units | 10% | 8% | +1.4 pts |
| Owners | 72% | 72% | +0.7 pts |
With 72% of Franklin County homes owner-occupied, equity is a real alternative for many readers; just remember a missed HELOC payment puts the home at risk.
Household income in Franklin County
The median household income in Franklin County is $59,894; statewide it is $75,059, so Franklin County runs 20% below Iowa as a whole.
| Band | Franklin County | Compared with Iowa |
|---|---|---|
| Under $35,000 | 25.9% | +4.8 pts |
| $35,000 to $99,999 | 49.0% | +6.1 pts |
| $100,000 to $199,999 | 22.1% | -5.4 pts |
| $200,000 or more | 3.1% | -5.4 pts |
Six-figure households (25%) are outnumbered by those under $35,000 (26%) in Franklin County. The poverty rate is 13.6%, 3 points higher than the state's 11.1%. The Gini index of income inequality is 0.456 (0 is perfect equality). None of these numbers decides a Franklin County application. Lenders weigh your own documented income against your own debts.
How Franklin County compares with nearby counties
The six counties whose centers lie closest to Franklin County's, from 23 to 33 miles away. Income ranges from $65,069 in Hardin County to $73,715 in Butler County; all six of these neighbors top Franklin County's median.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Franklin County | - | $59,894 | $696/mo | 72% |
| Cerro Gordo County, IA | 23 mi | $68,189 | $850/mo | 70% |
| Wright County, IA | 24 mi | $67,190 | $790/mo | 77% |
| Hardin County, IA | 24 mi | $65,069 | $795/mo | 74% |
| Butler County, IA | 25 mi | $73,715 | $812/mo | 84% |
| Hamilton County, IA | 33 mi | $72,432 | $877/mo | 73% |
| Floyd County, IA | 33 mi | $68,557 | $745/mo | 77% |
Census places in Franklin County
Places, by size: the top 11 of 11. Roughly 22% of Franklin County lives outside all of them, in open country or unnamed settlements. Incomes vary by place: $78,000 at the median in Dows, $47,088 in Hampton. Median rent ranges from $631 in Hampton to $1,005 in Latimer. None of the 11 has its own city guide, so this page covers all of them.
| Community | Type | Residents | Household income (median) | Rent (median) | Distance |
|---|---|---|---|---|---|
| Hampton | city | 4,306 | $47,088 | $631 | 3 mi |
| Sheffield | city | 1,053 | $54,458 | $700 | 11 mi |
| Latimer | city | 681 | $61,042 | $1,005 | 5 mi |
| Dows | city | 562 | $78,000 | $695 | 13 mi |
| Alexander | city | 245 | $56,250 | n/a | 12 mi |
| Coulter | city | 228 | $62,917 | $693 | 5 mi |
| Bradford | CDP | 178 | n/a | n/a | 7 mi |
| Geneva | city | 152 | $56,250 | $669 | 8 mi |
| Chapin | CDP | 137 | $73,091 | n/a | 7 mi |
| Popejoy | city | 109 | $38,681 | n/a | 13 mi |
| Hansell | city | 83 | $71,667 | $650 | 9 mi |
Debt-to-income, Franklin County edition
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: $4,991 before taxes
- 14% goes to median rent ($696)
- At 43%, room after rent is $1,450 a month
These are gross figures; take-home pay in Franklin County will be lower after taxes and deductions.
Local borrowing considerations for Franklin County
Franklin County-specific points to check:
- Medical bills. 10% of Franklin County residents are uninsured. Before borrowing for care, ask the provider about financial assistance and payment plans.
- Paperwork. ID, proof of income and a bank account are the basics (requirements).
- Combining balances. It helps when total cost falls and the cards stay paid down (consolidation).
More Franklin County figures
College graduates make up 19% of the adult population. Uninsured, Franklin County: 10.0%; Iowa: 5.0%.
| People and households | Franklin County | Compared with Iowa | Compared with median county |
|---|---|---|---|
| Median age | 42.7 | +4.1 yrs | +1.2 yrs |
| Bachelor's or higher | 19.4% | -12.0 pts | -2.8 pts |
| No high school diploma | 9.5% | +2.7 pts | n/a |
| No health insurance | 10.0% | +5.0 pts | +2.2 pts |
| No vehicle | 4.1% | -1.3 pts | -1.3 pts |
| Work from home | 7.9% | -3.4 pts | -0.8 pts |
| Poverty rate | 13.6% | +2.5 pts | +0.4 pts |
| Unemployment (ACS) | 3.8% | +0.2 pts | -0.6 pts |
| Commute length | Franklin County |
|---|---|
| Under 15 min | 47.8% |
| 15 to 29 min | 30.3% |
| 30 to 44 min | 13.6% |
| 45 to 59 min | 2.6% |
| 60+ min | 5.7% |
Verifying a lender from Franklin County
Licensing happens at the state level, so a lender working with Franklin County borrowers answers to the Iowa Division of Banking. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. See the Iowa state guide for the statewide picture.
Checklist for Franklin County applicants
Before you apply, wherever you live in Franklin County:
- Price the Franklin County expense first and borrow that amount, no more.
- Compare the total repaid on every offer, not just the payment.
- Check the license, then the reviews, then the offer.
- Ask about early-payoff penalties.
Keep exploring
Next step up from Franklin County:
Frequently asked questions
What is the median household income in Franklin County?
$59,894 a year in the 2020 to 2024 Census survey, versus $75,059 for Iowa. It ranks 94th of 99 in the state.
What do renters pay in Franklin County?
$696 a month at the median, about 14% of median household income.
Is Hansell covered?
Yes. Hansell is one of 11 Census places in Franklin County, and this guide covers all of them.
Are Franklin County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.
Where can someone in Franklin County check a lender's license?
With the Iowa Division of Banking. If a lender is unlicensed or asks for a fee before funding, walk away.