Franklin County, Alabama: commercial real estate data.
Franklin County, Alabama had an estimated 31,874 residents on July 1, 2024, down 0.7 percent since the 2020 census base of 32,111, across 634 square miles. County output reached $1.34 bn in 2024, 539 establishments operate here, and the SBA record carries 6 7(a) approvals worth $5.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Franklin County
How many people live in Franklin County
- Population, American Community Survey 2020-202431,966
- Households11,954
- Average household size2.67
- Median household income$53,338
- Median age38.0
- Median gross rent$676 per month
- Median owner-occupied home value$136,000
- Home value to household income2.5 times
- Annual rent as a share of median income15.2 percent
- Adults 25 and over with a bachelor degree or higher15.8 percent
- Adults 25 and over with a graduate degree5.9 percent
- Adults 25 and over21,249
- Population under 188,052
- Share under 1825.2 percent
- Population 65 and over5,328
- Share 65 and over16.7 percent
- Working age population, 18 to 6418,586
- Civilian labor force14,151
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over59.2 percent
- Rank by population among Alabama counties37th of 67
- Rank by population among US county-equivalents, Puerto Rico included1423rd of 3,222
Franklin County is the 37th largest of 67 Alabama counties by population. A median home costs 2.5 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 25.2 percent against 16.7 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Franklin County
Is Franklin County's population growing?
- Population, July 1, 202431,874
- Census 2020 base population32,111
- Population change since the 2020 census base-0.74 percent
- Population change, 2023 to 2024-67
- Births, 2024431
- Deaths, 2024444
- Natural change, 2024-13
- Net domestic migration, 2024-241
- Net international migration, 2024189
- Total net migration, 2024-52
- Cumulative net domestic migration, 2021 to 2024-498
- Rank by growth among US county-equivalents2103rd of 3,144
The county has lost 0.74 percent of its population since the 2020 census base. The population fell in 2024 from both sources: deaths exceeded births and more people left than moved in.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Franklin County
Where are people moving to Franklin County from?
- Tax returns filed by households arriving541
- People arriving, from those returns1,079
- Tax returns filed by households leaving569
- Net household movement-28
- Adjusted gross income arriving$22.6 m
- Net adjusted gross income movement$-1.5 m
- Average income of an arriving household$41,815
- Average income of a leaving household$42,329
- Largest single originColbert County (105 households)
- Largest single destinationColbert County (167 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Colbert County | 105 | 226 | $4.1 m |
| Lauderdale County | 54 | 86 | $1.8 m |
| Marion County | 47 | 111 | $2.1 m |
| Winston County | 27 | 56 | $896,000 |
| Tishomingo County | 27 | 68 | $1.9 m |
| Lawrence County | 21 | 46 | $872,000 |
Households arriving report $514 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Colbert County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Franklin County
What is the Franklin County economy?
- County GDP, 2024$1.34 bn
- County GDP, 2023$1.24 bn
- GDP change, 2023 to 20247.5 percent
- GDP change over five years38.2 percent
- Rank by GDP among the Alabama areas BEA publishes35th of 67
- Rank by GDP among the US county areas BEA publishes1608th of 3,127
- GDP per resident$41,817
Output grew 7.5 percent in the latest year and 38.2 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Franklin County
Employment by industry in Franklin County
- Covered employment, annual average10,956
- Establishments reporting691
- Average annual pay$48,266
- Average weekly wage$928
- Manufacturing, employment4,631
- Manufacturing, average annual pay$55,867
- Retail trade, employment1,129
- Retail trade, average annual pay$29,731
- Accommodation and food services, employment638
- Accommodation and food services, average annual pay$18,690
- Finance and insurance, employment387
- Finance and insurance, average annual pay$51,049
- Construction, employment217
- Administrative and support and waste management services, employment192
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 4,631 | 45 | $55,867 |
| Retail trade | 1,129 | 116 | $29,731 |
| Accommodation and food services | 638 | 55 | $18,690 |
| Finance and insurance | 387 | 48 | $51,049 |
| Construction | 217 | 58 | $56,752 |
| Administrative and support and waste management services | 192 | 20 | $43,484 |
| Other services, except public administration | 140 | 40 | $43,787 |
| Mining, quarrying, and oil and gas extraction | 88 | 3 | $56,746 |
Manufacturing is the largest private sector at 4,631 jobs, 42.3 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Franklin County
How many businesses are in Franklin County?
- Establishments, all industries539
- Employment at those establishments11,039
- Annual payroll$456.5 m
- Establishments per 1,000 residents16.9
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Franklin County
Building permits in Franklin County
- Housing units authorized by permit, 202413
- Declared construction value permitted$1.8 m
- Single family units authorized13
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$140,706
- Units authorized per 1,000 households1.1
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Franklin County
SBA loans in Franklin County (7(a) and 504)
- 7(a) approvals recorded6
- 7(a) gross approval dollars$5.9 m
- Average 7(a) approval$978,233
- Median 7(a) approval$690,000
- Largest single approval$2,209,000
- Jobs reported supported, 7(a)69
- Jobs per approval11.5
- Distinct 7(a) lenders active5
- Distinct industries receiving approvals5
- Median 7(a) term150 months
- Share of loans on real estate terms, 240 months or longer33.3 percent
- Loans on real estate terms2
- Loans on working capital terms, 120 months or shorter3
- Franchise loans1
- Franchise share of approvals16.7 percent
- 504 approvals recorded2
- 504 gross approval dollars$1.5 m
- Average 504 approval$746,500
- Median 504 approval$746,500
- Distinct CDCs active2
- 504 jobs per approval1.5
- 504 jobs per million dollars approved2.0
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$7.4 m
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Franklin County
SBA loan default and charge-off rates in Franklin County
Do SBA loans in Franklin County get paid back?
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Paid in full1
- Status: Cancelled3
- Status: Exempt from disclosure2
Only 1 loan has reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Franklin County
SBA lending by place in Franklin County
- Borrower cities with recorded lending3
- Russellville, approvals3
- Phil Campbell, approvals2
- Red Bay, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Russellville | 3 | $3,389,000 |
| Phil Campbell | 2 | $2,130,400 |
| Red Bay | 1 | $350,000 |
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Franklin County
How large is Franklin County?
- Land area634 sq mi
- Rank by land area among Alabama counties41st of 67
- Width, east to west36.7 mi
- Height, north to south19.1 mi
- Geographies sharing a boundary6
- Residents per square mile of land50
- Establishments per square mile0.85
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Franklin County
Flood risk in Franklin County
- Participation of the county's own NFIP community Franklin County, unincorporated areasParticipating, community 010322
- Communities in the county in the NFIP Community Status Book6
- Of those, participating in the NFIP6
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
- Radon levels in Franklin County, EPA zone predicted average indoor radon screening level greater than 4 pCi/LZone 1
The county's own community in the status book, unincorporated Franklin County (community 010322), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Franklin County in radon zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Franklin County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Franklin County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202431,966
- Households11,954
- Average household size2.67
- Median household income$53,338
- Median age38.0
Common questions
Franklin County questions, answered from the record.
How many people live in Franklin County, Alabama?
The Census Bureau estimates 31,874 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 31,966, in 11,954 households, ranking 37th of 67 Alabama counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Franklin County's population growing?
The population has fallen 0.74 percent since the 2020 census base of 32,111, to 31,874 on July 1, 2024. In 2024 there were 431 births against 444 deaths, with net migration of -52. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Franklin County?
$53,338. The median owner-occupied home is valued at $136,000, which is 2.5 times income, and median gross rent is $676 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Franklin County?
539 establishments, employing 11,039 people with an annual payroll of $456.5 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Franklin County?
Manufacturing is the largest private sector at 4,631 jobs, 42.3 percent of covered employment. Covered employment averages 10,956 jobs at an average annual pay of $48,266, or $928 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Franklin County?
6 7(a) approvals totaling $5.9 m since FY2020, across 5 lenders, with a median approval of $690,000, plus 2 504 approvals worth $1.5 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Franklin County?
13 housing units were authorized by permit in 2024, with a declared construction value of $1.8 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Franklin County?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Franklin County come from?
The largest single origin is Colbert County, with 105 households. Arriving households report an average income of $41,815 against $42,329 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Franklin County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Franklin County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Franklin County
Cities and places in Franklin.
7 Census places lie wholly or partly in Franklin County. All 7 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Russellville | city | 10,799 | 3 | Wholly in this county |
| Red Bay | city | 3,201 | 1 | Wholly in this county |
| Phil Campbell | town | 780 | 2 | Wholly in this county |
| Hodges | town | 420 | None recorded | Wholly in this county |
| Vina | town | 358 | None recorded | Wholly in this county |
| Spruce Pine | CDP | 189 | None recorded | Wholly in this county |
| Belgreen | CDP | 58 | None recorded | Wholly in this county |