Franklin is located close to the center of Illinois. Franklin is between the Morgan, Macoupin county. Franklin has 0.74 square miles of land area and has no water area. As of 2010-2014, the total Franklin population is 564, which has shrunk 3.75% since 2000. The population growth rate is much lower than the state average rate of 3.62% and is much lower than the national average rate of 11.61%. Franklin median household income is $55,250 in 2010-2014 and has grown by 40.32% since 2000. The income growth rate is much higher than the state average rate of 22.70% and is higher than the national average rate of 27.36%. Franklin median house value is $87,000 in 2010-2014 and has grown by 39.20% since 2000. The house value growth rate is higher than the state average rate of 34.33% and is lower than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Franklin is close to the state average in quality. The Franklin area code is 217.