This was 41.9 percent higher than the state average of 39.6 percent. In 2020 the total municipality population reached 2,877.
99.2 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Franklin for 2020*
| Degree | Number of people | Percentage of population | 
|---|---|---|
| No degree | 16 | 0.8 | 
| Regular high school diploma | 113 | 6 | 
| GED or alternative credential | 0 | 0 | 
| Some college, less than 1 year | 62 | 3.3 | 
| Some college, 1 or more years, no degree | 159 | 8.4 | 
| Associate's degree | 88 | 4.7 | 
| Bachelor's degree | 594 | 31.4 | 
| Master's degree | 462 | 24.4 | 
| Professional school degree | 323 | 17.1 | 
| Doctorate degree | 75 | 4 | 

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