New Franklin, MO Profile: Facts & Data

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New Franklin, Missouri - Basic Facts

The City of New Franklin had a population of 994 as of July 1, 2023.

The primary coordinate point for New Franklin is located at latitude 39.0173 and longitude -92.7374 in Howard County. The formal boundaries for the City of New Franklin encompass a land area of 1.33 sq. miles and a water area of 0.01 sq. miles. Howard County is in the Central time zone (GMT -6).

The City of New Franklin has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The City of New Franklin is located within Township of Franklin, a minor civil division (MCD) of Howard County.


Jump to... (On This Page!)
  1. New Franklin 2023 Demographic Data
  2. Growth Rates for New Franklin (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Missouri Research Tools (Easy Tools & Current Data)
  3. Missouri Data Comparison Tool - 2023 Demographics
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New Franklin, MO Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 994 (100%)
Population in Households 994 (100.0%)
Population in Families 752 (75.7%)
Population in Group Quarters1 0
Population Density 751
Diversity Index2 16
 
 

INCOME

Median Household Income $50,718
Average Household Income $66,335
% of Income for Mortgage4 12%
Per Capita Income $29,697
Wealth Index5 44
Socioeconomic Status Index6 Low (44.3)
 

HOUSING

Total HU (Housing Units) 494 (100%)
Owner Occupied HU 282 (57.1%)
Renter Occupied HU 163 (33.0%)
Vacant Housing Units 49 ( 9.9%)
Median Home Value $99,153
Average Home Value $141,223
Housing Affordability Index3 212
 

HOUSEHOLDS

Total Households 445
Average Household Size 2.23
Family Households 248
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population -1.00% -0.55%
Households -0.41% -0.32%
Families   -0.41%
Median Household Income   4.42%
Per Capita Income   3.80%
Owner Occupied HU   -0.36%

New Franklin, MO - Peer Comparisons by Rank and Percentile

The table below compares New Franklin to the other 1,082 incorporated cities, towns and CDPs in Missouri by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 359 67th
Population Density # 494 54th
Median Household Income # 680 37th
Housing Affordability Index # 978 90th
Per Capita Income # 608 44th
Diversity Index # 763 29th

Additional comparisons and rankings can be made with a VERY EASY TO USE Missouri Census Data Comparison Tool.

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