The Waiho River runs from the Franz Josef Glacier to the south, through the town, and into the Tasman Sea to the north-west.

Following the passage of the Ngāi Tahu Claims Settlement Act 1998, the name of the town was officially altered to Franz Josef / Waiau.

[13] The work included $18m for rock embankments on the north and south banks, and $3.8m to raise the level of the highway bridge.

The work had not begun as of January 2021, leading to criticism from National MP Maureen Pugh and Regional Council head Allan Birchfield.

[15] One proposal made in a 2017 report was to remove embankments on the river's southern bank, allowing it to widen and flood several thousand hectares of farmland.

[17][18][10] Franz Josef is defined by Statistics New Zealand as a rural settlement and covers 5.31 km2 (2.05 sq mi).

Although some people chose not to answer the census's question about religious affiliation, 54.0% had no religion, 31.7% were Christian, 6.2% were Hindu, 0.6% were Muslim, and 2.5% were Buddhist.

[20] Although Franz Josef has only 330 local ratepayers, it regularly received 600,000 tourist visitors a year until the COVID-19 epidemic restricted travel to New Zealand.

[22] The glacier's terminal face is 5 kilometres (3 mi) from the town and its accessibility makes it a major tourist attraction and the reason many people visit Franz Josef.

Other amenities include a petrol station, small but busy heliport and a number of restaurants and shops.

Franz Josef village is also home to the West Coast Wildlife Centre, a public/private partnership with the Department of Conservation and local iwi, dedicated to the hatching and incubation of the world's two rarest species of kiwi, the rowi and Haast tokoeka.

[25] Opened in 1931, the church is notable for its use of clear glass windows behind the altar giving views of the river, mountains and bush beyond.

It is similar in style to Swiss mountain churches with a steeply pitched roof to shed snow, and has prominent buttresses.

[29]: 115  Manawa Energy owns the 3 MW Wahapo hydroelectric power station, 20 km (12 mi) north of the town.

The school roll has fluctuated between 12 and 57, and is largely driven by families moving to or from Franz Josef to work in tourism.