townsfolk vs town

townsfolk and town both are nouns.

Word	Noun	Adjective	Verb	Adverb
townsfolk	Yes	No	No	No
town	Yes	No	No	No

As nouns, townsfolk and town are synonyms defined as:

townsfolk and town: the people living in a municipality smaller than a city

Other synonyms of townsfolk include townspeople.

townsfolk (noun)	town (noun)
the people living in a municipality smaller than a city	the people living in a municipality smaller than a city
	an urban area with a fixed boundary that is smaller than a city
	an administrative division of a county