Emilio's grandfather, Sebastián Carranza de la Garza (1848-1921) was brother of Venustiano Carranza (1859-1920), who was President of Mexico from 1917 until his assassination in 1920.

Emilio's father was a businessman and government official who, at the time of Emilio's death in 1928, was an accountant at the Mexican Consulate in New York City.

Emilio's brothers Sebastián and José were also involved in aviation. Sebastian often flew with Emilio and both Sebastián and José were accomplished aircraft mechanics. Sebastián was involved with civilian aviation the rest of his life, working primarily for Pan-American Airlines in Mexico.

In January 1928, just 6 months before his death, Emilio married Maria Luisa Corbala of Sinaloa, Mexico. The young widow had a child in 1929, who was named after his father Emilio. Following the death of Emilio, Maria Luisa moved to Guadalajara. She visited the Carranza family in Mexico City once when the young Emilio was about 5 years old. The Carranza family was informed that young Emilio Carranza Corbala died of appendicitis when he was about 6. It appears Maria Luisa remarried and lived the rest of her life in Guadalajara.