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Franklin city Housing Market

Virginia · 133 counties · Ranked #2189 in home value

Below National Avg

Housing at a Glance

Median Home Value

$227,200

vs national$227,200 vs $281,900 national

Median Gross Rent

$995/mo

vs national$995 vs $1,163 national

Effective Tax Rate

0.74%

vs national0.74% vs 1.02% national

Median Household Income

$65,125

vs national$65,125 vs $74,755 national

Affordability Ratio

3.5x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

26.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$1,677

Tax as % of Home Value

0.74%

Monthly Owner Cost

$1,180

Renter Income

$48,780

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Frequently Asked Questions

What is the median home value in Franklin city?

The median home value in Franklin city is $227,200. This is below the national median of $281,900.

How much is rent in Franklin city?

The median gross rent in Franklin city is $995 per month.

What is the property tax rate in Franklin city?

The effective property tax rate in Franklin city is 0.74%. The median annual property tax bill is $1,677.

Is Franklin city affordable?

With a home-value-to-income ratio of 3.5x, Franklin city is moderately affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.