HomeNorth CarolinaFranklin County
Franklin County, North Carolina: commercial real estate data.
Franklin County, North Carolina had an estimated 79,771 residents on July 1, 2024, up 16.2 percent since the 2020 census base of 68,622, across 492 square miles. County output reached $2.88 bn in 2024, 1,228 establishments operate here, and the SBA record carries 49 7(a) approvals worth $20.0 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 2020-202474,386
- Households28,529
- Average household size2.61
- Median household income$74,240
- Median age41.0
- Median gross rent$1,083 per month
- Median owner-occupied home value$284,300
- Home value to household income3.8 times
- Annual rent as a share of median income17.5 percent
- Adults 25 and over with a bachelor degree or higher27.0 percent
- Adults 25 and over with a graduate degree8.9 percent
- Adults 25 and over52,067
- Population under 1816,194
- Share under 1821.8 percent
- Population 65 and over12,988
- Share 65 and over17.5 percent
- Working age population, 18 to 6445,204
- Civilian labor force36,827
- Unemployment rate4.6 percent
- Labor force participation, adults 18 and over63.3 percent
- Rank by population among North Carolina counties37th of 100
- Rank by population among US county-equivalents, Puerto Rico included759th of 3,222
Franklin County is the 37th largest of 100 North Carolina counties by population. A median home costs 3.8 times median household income, which is moderately unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 21.8 percent against 17.5 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, 202479,771
- Census 2020 base population68,622
- Population change since the 2020 census base16.25 percent
- Population change, 2023 to 20242,679
- Births, 2024879
- Deaths, 2024738
- Natural change, 2024141
- Net domestic migration, 20242,352
- Net international migration, 2024188
- Total net migration, 20242,540
- Cumulative net domestic migration, 2021 to 20249,804
- Rank by growth among US county-equivalents45th of 3,144
The county has grown 16.25 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
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 arriving3,081
- People arriving, from those returns6,073
- Tax returns filed by households leaving2,046
- Net household movement1,035
- Adjusted gross income arriving$215.0 m
- Net adjusted gross income movement$98.0 m
- Average income of an arriving household$69,781
- Average income of a leaving household$57,184
- Largest single originWake County (1,419 households)
- Largest single destinationWake County (664 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Wake County | 1,419 | 2,852 | $96.3 m |
| Granville County | 147 | 304 | $9.3 m |
| Durham County | 139 | 261 | $9.8 m |
| Vance County | 135 | 288 | $5.5 m |
| Johnston County | 80 | 149 | $5.2 m |
| Nash County | 62 | 116 | $3.6 m |
| Guilford County | 29 | 44 | $1.7 m |
| Warren County | 28 | 51 | $1.2 m |
Households arriving report $12,597 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Wake 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$2.88 bn
- County GDP, 2023$2.63 bn
- GDP change, 2023 to 20249.7 percent
- GDP change over five years46.2 percent
- Rank by GDP among the North Carolina areas BEA publishes46th of 100
- Rank by GDP among the US county areas BEA publishes1006th of 3,127
- GDP per resident$38,764
Output grew 9.7 percent in the latest year and 46.2 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 average13,747
- Establishments reporting1,676
- Average annual pay$57,174
- Average weekly wage$1,100
- Manufacturing, employment2,664
- Manufacturing, average annual pay$76,328
- Construction, employment1,628
- Construction, average annual pay$61,460
- Retail trade, employment1,496
- Retail trade, average annual pay$35,150
- Health care and social assistance, employment942
- Health care and social assistance, average annual pay$43,678
- Accommodation and food services, employment940
- Administrative and support and waste management services, employment887
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Manufacturing | 2,664 | 58 | $76,328 |
| Construction | 1,628 | 292 | $61,460 |
| Retail trade | 1,496 | 165 | $35,150 |
| Health care and social assistance | 942 | 117 | $43,678 |
| Accommodation and food services | 940 | 83 | $20,332 |
| Administrative and support and waste management services | 887 | 166 | $45,464 |
| Wholesale trade | 476 | 79 | $71,487 |
| Educational services | 377 | 25 | $37,705 |
Manufacturing is the largest private sector at 2,664 jobs, 19.4 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 industries1,228
- Employment at those establishments12,194
- Annual payroll$687.8 m
- Establishments per 1,000 residents16.5
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, 2024948
- Declared construction value permitted$272.2 m
- Single family units authorized948
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$287,097
- Units authorized per 1,000 households33.2
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 recorded49
- 7(a) gross approval dollars$20.0 m
- Average 7(a) approval$408,806
- Median 7(a) approval$250,000
- 10th percentile approval$66,000
- 90th percentile approval$803,600
- Largest single approval$3,454,600
- Jobs reported supported, 7(a)480
- Jobs per approval9.8
- Distinct 7(a) lenders active29
- Distinct industries receiving approvals33
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer22.4 percent
- Loans on real estate terms11
- Loans on working capital terms, 120 months or shorter35
- Franchise loans6
- Franchise share of approvals12.2 percent
- Leading industry by approval countFitness and Recreational Sports Centers (5)
- Most active lenderNortheast Bank (6)
- 504 approvals recorded6
- 504 gross approval dollars$2.1 m
- Average 504 approval$341,833
- Median 504 approval$366,500
- Distinct CDCs active2
- 504 jobs per approval6.8
- 504 jobs per million dollars approved20.0
- Most active CDCBusiness Expansion Funding Corporation (5)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$22.1 m
The average approval of $408,806 sits well above the median of $250,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 22.4 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
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 recorded11
- Paid in full11
- Charged off0
- Status: Paid in full11
- Status: Cancelled8
- Status: Exempt from disclosure30
Only 11 loans have 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 lending4
- Youngsville, approvals21
- Louisburg, approvals18
- Franklinton, approvals9
- Wake Forest, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Youngsville | 21 | $9,915,600 |
| Louisburg | 18 | $6,553,000 |
| Franklinton | 9 | $3,483,900 |
| Wake Forest | 1 | $79,000 |
Youngsville accounts for 21 approvals against 18 in Louisburg. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
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 area492 sq mi
- Rank by land area among North Carolina counties44th of 100
- Width, east to west30.2 mi
- Height, north to south31 mi
- Geographies sharing a boundary5
- Residents per square mile of land151
- Establishments per square mile2.50
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 370377
- Communities in the county in the NFIP Community Status Book5
- Of those, participating in the NFIP4
- NFIP participation rate80.0 percent
- Communities carrying a CRS class0
- Radon levels in Franklin County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Franklin County (community 370377), 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 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. 80.0 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 2020-202474,386
- Households28,529
- Average household size2.61
- Median household income$74,240
- Median age41.0
Common questions
Franklin County questions, answered from the record.
How many people live in Franklin County, North Carolina?
The Census Bureau estimates 79,771 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 74,386, in 28,529 households, ranking 37th of 100 North Carolina counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Franklin County's population growing?
The population has grown 16.25 percent since the 2020 census base of 68,622, to 79,771 on July 1, 2024. In 2024 there were 879 births against 738 deaths, with net migration of 2,540. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Franklin County?
$74,240. The median owner-occupied home is valued at $284,300, which is 3.8 times income, and median gross rent is $1,083 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Franklin County?
1,228 establishments, employing 12,194 people with an annual payroll of $687.8 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 2,664 jobs, 19.4 percent of covered employment. Covered employment averages 13,747 jobs at an average annual pay of $57,174, or $1,100 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?
49 7(a) approvals totaling $20.0 m since FY2020, across 29 lenders, with a median approval of $250,000, plus 6 504 approvals worth $2.1 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Franklin County?
948 housing units were authorized by permit in 2024, with a declared construction value of $272.2 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 2, a predicted average indoor radon screening level from 2 to 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 Wake County, with 1,419 households. Arriving households report an average income of $69,781 against $57,184 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 |
|---|---|---|---|---|
| Wake Forest | town | 52,844 | 1 | 2.5 percent here, 97.5 percent Wake County |
| Louisburg | town | 3,263 | 18 | Wholly in this county |
| Lake Royale | CDP | 3,168 | None recorded | Wholly in this county |
| Youngsville | town | 3,011 | 21 | Wholly in this county |
| Franklinton | town | 2,645 | 9 | Wholly in this county |
| Bunn | town | 466 | None recorded | Wholly in this county |
| Centerville | CDP | 202 | None recorded | Wholly in this county |