Two theories are given as to how Frankston derived its name. The one most accepted—and shown on the city's official website—is that Frankston was named for Frankie Miller, a young woman who donated land for the downtown city park.[5] An alternate theory for the name of the town was that Frankston was named after Frank Miller, who owned the land when the railway was built.[citation needed] The Miller house still stands as a historical landmark in the southeastern part of town, on ACR 19. The state bought the land from him and named the city in his honor. The original Main Street still holds the name Miller Street. The junction of Highways 155 and 175 is now the center of the town.
The town's population had a median household income of $46,250 in 2020, up from $28,125 in 2000.[11] About 12.8% of families and 17.1% of the population lived at or below the poverty line, including 14.0% of those under age 18 and 25.6% of those age 65 or over according to the 2000 U.S. census.
Government
Frankston's City Hall building, on the west side of downtown, also includes its police department and an annex for the Anderson County sheriff's department. Frankston is served by a volunteer fire department. Anderson County operates a subcourthouse located on the southwest corner of Frankston's downtown square. The U.S. Postal Service operates a post office at 400 E. Main Street.
A railroad line operated by the Southern Pacific Railroad (originally built and operated by the Texas & New Orleans Railroad) served Frankston from 1902 until its abandonment in the mid-1980s. The only remaining vestige of the rail line in the city is a building used by the railroad company as a depot; it now serves as Frankston's public library.
^Note: the US Census treats Hispanic/Latino as an ethnic category. This table excludes Latinos from the racial categories and assigns them to a separate category. Hispanics/Latinos can be of any race.[10]