Living in Franklin, Virginia
Cost of living, income, home prices, rent and demographics of Franklin · Census data 2020–2024
Franklin has 8,250 residents with a median age of 38.3. The median household income is $63,245 (32% lower than the Virginia median), the median home value is $256,600, the median rent is $988/month.
Franklin at a glance
- Population
- 8,250
- Median age
- 38.3State: 39
- Median household income
- $63,245State: $93,170
- Median home value
- $256,600State: $383,700
- Median rent
- $988/moState: $1,579
- Homeowners
- 53.9%
- Bachelor's degree or higher
- 27.3%
- Average commute
- 23 min
Is Franklin a good place to live?
Pros: Home values 33% lower than the state median; an average commute of 23 minutes.
Cons: Median household income 32% lower than the Virginia median; unemployment of 7.9%; a poverty rate of 19.3%.
The weather is best in April–May and September–October.
Cost of living in Franklin
Housing is the biggest part of the cost of living. In Franklin the median home value is $256,600, 23% lower than the U.S. median. Renters pay a median of $988 per month, which is 32.7% of household income. Homeowners with a mortgage pay $1,648 a month in housing costs.
Franklin median household income
The median household income in Franklin is $63,245 and the income per person is $31,433. 19.3% of residents live below the poverty line (Virginia: 9.9%).
Housing in Franklin: homes for sale and rent
- Housing units
- 3,910
- Owner-occupied
- 53.9%
- Renter-occupied
- 46.1%
- Vacant
- 11.7%Includes seasonal homes
- Median year built
- 1967
- Average household size
- 2.35
Franklin demographics
- Population
- 8,250
- Median age
- 38.3
- Under 18
- 27%
- 65 and older
- 18.6%
- Households
- 3,454
- Foreign-born
- 0.8%
- Veterans
- 12.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Franklin ›
Education in Franklin
27.3% of adults 25 and older in Franklin have a bachelor's degree or higher (Virginia: 42.2%), and 10.6% have a graduate or professional degree.
Jobs and commute in Franklin
- Unemployment rate
- 7.9%State: 4.3%
- Average commute
- 23 minState: 27 min
- Work from home
- 4.7%
- Drive alone
- 84.4%
- Public transit
- 0%
- Walk to work
- 4.3%
- Homes with broadband
- 92.2%
Franklin vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Franklin | 8,250 | $63,245 | $256,600 | $988 |
| Camptown | 834 | $85,560 | — | $1,205 |
| Southampton Meadows | 421 | $34,665 | — | — |
| Sedley | 568 | $86,304 | $214,500 | — |
| Courtland | 1,579 | $60,673 | $235,600 | $1,068 |
| Newsoms | 289 | $57,969 | $164,800 | $1,011 |
| Windsor | 2,852 | $68,661 | $280,800 | $950 |
| Capron | 148 | $73,333 | $187,500 | $1,929 |
| Ivor | 301 | $61,250 | $194,500 | $1,063 |
More for people moving to Franklin
Franklin ZIP code ›Weather and climate ›Living in Franklin: FAQ
What is the median household income in Franklin, VA?
The median household income in Franklin is $63,245, 32% lower than the Virginia median of $93,170 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Franklin?
The median home value in Franklin is $256,600, compared with $383,700 in Virginia.
How much is rent in Franklin?
The median gross rent in Franklin is $988 per month, about 32.7% of household income.
Is Franklin, VA a good place to live?
Pluses: home values 33% lower than the state median; an average commute of 23 minutes. Minuses: median household income 32% lower than the Virginia median; unemployment of 7.9%; a poverty rate of 19.3%.
What is the median age in Franklin?
The median age in Franklin is 38.3 years (Virginia: 39).
How long is the commute in Franklin?
The average commute to work in Franklin is 23 minutes; 4.7% of workers work from home.
What is the unemployment rate in Franklin?
The unemployment rate in Franklin is 7.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Franklin?
27.3% of adults in Franklin have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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