Franklin by the Numbers

Franklin residents hold a median net worth of $548,475 and a median household income of $115,357. The city carries $1.54 billion in aggregate annual disposable income. This profile places Franklin among the highest-income communities in the seven-county region, with a demographic composition reflective of established suburban prosperity.

Every suburb that has successfully built a commercial tax base followed the same pattern: early investments create momentum, and momentum attracts more investment. Oak Creek's trajectory demonstrates this clearly. Its first wave of commercial projects made the next wave easier to attract. Retailers follow rooftops. Employers follow infrastructure. Restaurants and services follow employers. Each building block makes the next one more likely.

Franklin has the building blocks in place. A 520-acre corporate park with new interstate access. Yaskawa committing $180 million and 700 jobs. Costco in planning. More than 1.1 million square feet of industrial space added since 2019. These represent the early stages of a pattern seen in other Milwaukee-area suburbs where initial commercial investments attracted additional development.

Franklin's population is growing at 1.15% annually, faster than any neighboring community. Franklin's growth reflects a combination of available land, proximity to employment corridors, strong school ratings, and relative housing affordability compared to Brookfield.

Franklin 2040 compiles this data to provide residents with sourced economic information about the city's trajectory relative to comparable communities.

76% of Franklin's tax base is residential. Municipal services (roads, fire, parks) are funded proportionally from residential and commercial property taxes. Communities with a larger commercial share distribute that cost across more property types. Brookfield's commercial properties carry a significantly larger share of its tax base.

As commercial equalized value grows relative to residential, the per-household share of municipal costs decreases. Oak Creek's commercial growth over the past two decades illustrates this pattern.

Franklin households generate $535 million per year in retail and food service spending. When local commercial inventory does not match resident spending capacity, a portion of that spending occurs in neighboring communities. Economists refer to this as retail leakage.

Brookfield captures $704M in retail spending from its residents with a significantly larger commercial base. The ratio of resident spending power to local commercial inventory varies substantially across the six comparison suburbs.

National demographic and economic trends show that suburban communities attract and retain population growth more effectively when they offer diverse housing, employment, and commercial options. Communities with mixed-use centers, local employment corridors, and retail/restaurant options tend to show higher retention rates among younger household cohorts compared to communities relying primarily on residential development.

Tax Increment Financing captures future tax revenue generated by new development that would not exist without the development. The base tax value in the district remains unchanged; only the increment—new value created by the project—is redirected toward infrastructure and project costs. When a TIF district terminates, the new assessed value flows into the general tax base.

Franklin's Poths General TIF district has projected $15 million in TIF investment generating $17 million in new property tax revenue over time, demonstrating the mechanism's impact on assessed value creation.

Franklin has 1,165 people per square mile. Oak Creek has 2,081. Brookfield has 1,855. New Berlin has 1,400. Population density is a factor that retail site-selection models consider when evaluating market viability. Communities with higher density often have larger daytime populations and more consumer spending concentrated within geographic boundaries.

Daytime population—the number of people present in a community during business hours—directly correlates with the viability of local service businesses. Food service, retail, personal services, and gas stations depend on weekday customer traffic. Daytime population can be enhanced by resident employment or by jobs within the community that draw commuters or create destination activity.

Franklin has committed or incoming employment that includes Yaskawa (700 jobs), Saputo (600 jobs), Modine (300+ jobs), and Krones (150 jobs). These represent approximately 1,750 additional daytime workers whose spending and service needs support local commerce.

Franklin currently has in place: a new I-94 interchange providing freeway access to 520 acres of developable land, confirmed corporate commitments from Yaskawa ($180M), Saputo ($180M), Modine ($100M), and Costco, plus a recently updated Unified Development Ordinance (first comprehensive update since 1998). These elements represent the infrastructure and regulatory framework that support development activity.