20 Housing Strategy | ENVISION FRANKLIN ATTAINABILITY Household income in the City of Franklin grew by 14 percent from 2015 – 2021, while homeowners enjoyed a generous 41 percent gain in equity. The gap between incomes and housing costs creates a challenge for would-be homebuyers. Data sources: American Community Survey (2015 & 2021) DEFINITIONS • Area Median Income: Also referred to as Median Family Income, or Median Household Income, AMI is the mid-point of the City of Franklin’s income distribution. These numbers are from the American Community Survey by the U.S. Census Bureau. • Median Home Value: Median home value is the mid-point of the City of Franklin’s home value distribution. This number from the American Community Survey by the U.S. Census Bureau.
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