The 2018 American Community Survey five-year estimates put Franklin's population at 75,366, which is 13.17% higher than the 2014 ACS five-year population estimate of 66,596.
The U.S. Census Bureau released the latest ACS five-year estimates for 2014-18 on Dec. 19. According to the U.S. census, the annual data release “helps local officials, community leaders, and businesses understand the changes taking place in their communities.” The ACS five-year estimate differs from the census count, which is taken every 10 years and will be held in spring 2020.
The city's largest population sector is made up of residents ages 45-54, which accounts for 15% of the population. This marks a shift from 2014, when residents ages 35-44 held the majority at 16.7%.
The growth has also affected the area's real estate market. From 2014-18, the median home value in Franklin rose from an estimated $312,400 to $385,500, a 23.4% increase.