Carmel receives the higher standardized Area Score. That reflects AreaProfile's weighting, not a judgment about which place is better to live in.
Signals
Franklin
Carmel
Opportunity
72 · Top 18%
vs85 · Top 3%
Growth
76 · Top 8%
vs76 · Top 8%
Climate
68 · Bottom 43%
vs68 · Bottom 39%
Physical resilience
65 · Top 44%
vs76 · Top 30%
Housing affordability
100 · Top 8%
vs95 · Top 20%
Schools
51 · Bottom 49%
vs86 · Top 6%
Access
92 · Top 50%
vs89 · Bottom 39%
Economic stability
60 · Bottom 48%
vs77 · Top 12%
Measured values
| Metric | Franklin | Carmel | Source period |
|---|---|---|---|
| Population | 26,168 | 101,651 | 2024 ACS 5-Year |
| Median household income | $82,380 | $141,505 | 2024 ACS 5-Year |
| Per capita income | $37,366 | $73,549 | 2024 ACS 5-Year |
| Population density | 1,671/sq mi | 2,071/sq mi | 2024 ACS 5-Year |
| Median home value | $231,500 | $486,800 | 2024 ACS 5-Year |
| Median gross rent | $1,186 | $1,712 | 2024 ACS 5-Year |
| Homeownership rate | 65.7% | 74.3% | 2024 ACS 5-Year |
| Unemployment rate | 3.4% | 3.1% | June 2026 |
| Employment change (year over year) | -0.7% | -0.7% | June 2026 |
| Bachelor's degree or higher | 27.8% | 74.4% | 2024 ACS 5-Year |
| Poverty rate | 11.0% | 3.9% | 2024 ACS 5-Year |
| Housing units permitted (12 months) | 266 | 1,015 | 12 months ending July 2026 |
| Permits per 1,000 residents | 10.2 | 10.0 | 12 months ending July 2026 |
| Permit change (year over year) | 23.7% | 43.6% | 12 months ending July 2026 |
| Average July high | 86°F | 85°F | 1991-2020 Normals |
| Average January low | 22°F | 21°F | 1991-2020 Normals |
| Annual precipitation | 43.1" | 40.7" | 1991-2020 Normals |
| Distance to major airport | 20 mi | 19 mi | NASR current cycle |
| Average commute | 26.3 min | 26.0 min | 2024 ACS 5-Year |
| Median age | 34.5 | 40.6 | 2024 ACS 5-Year |
| Public schools | 8 | 17 | 2024-25 school year |
| Students per teacher | 16.41 | 16.09 | 2024-25 school year |
| Math proficiency | 40.5% | 67.9% | 2019-20 school year |
| Reading proficiency | 40.0% | 65.9% | 2019-20 school year |
| Free or reduced-price lunch eligibility | 48.2% | 12.8% | 2024-25 school year |
A bolded value is the more favorable of the two where the metric has a clear direction. Metrics like population and density have no inherent better or worse and are shown unweighted.
Physical risk tradeoff
Franklin
Elevated or high exposure: tornado, earthquake.
Carmel
Elevated or high exposure: tornado, earthquake.
Full profiles: Franklin, IN · Carmel, IN · How this is calculated: methodology