Cost of Living in Franklin County, Virginia

$797/mo

Median Monthly Rent

$222,800

Median Home Value

30% below state averageUnaffordable

At a Glance

Median Monthly Rent

$797/mo

30% below state average

Median Home Value

$222,800

21% below national

Rent-to-Income Ratio

21.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Franklin County Compares

Median monthly rent comparison

Franklin County$797/mo

Virginia Average$1,140/mo

National Median$1,163/mo

Detailed Housing Stats

$797/mo

Median Gross Rent

$222,800

Median Home Value

$786/mo

Monthly Owner Cost

21.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Franklin County, Virginia

Franklin County Excels in Affordability

Franklin County residents spend just 14.0% of income on rent—among Virginia's lowest and well below the national norm. With low rents of $797 monthly and respectable median income of $68,348, housing is genuinely affordable for working families.

Virginia's Best Housing Value

Franklin County's 14.0% rent-to-income ratio ranks among the state's most affordable, beating the Virginia average of 18.6% by a significant margin. This rural county delivers exceptional housing value without the isolation costs of other regions.

Cheapest in the Piedmont

Franklin County's $797 monthly rent rivals Floyd County ($826) as the region's most affordable, while median incomes ($68,348) exceed both Floyd and Galax. This combination makes Franklin County a standout value option in south-central Virginia.

Costs Barely Dent Income

Renters in Franklin County spend just $797 monthly while homeowners pay $786—incredibly low housing costs that consume only 14.0% of median income. Families here enjoy substantial financial breathing room after covering shelter needs.

Franklin County Rewards Flexibility

If you have remote work or flexible employment, Franklin County's 14.0% rent-to-income ratio and $797 monthly rents offer unbeatable value. Move here and potentially cut housing costs in half while accessing a supportive rural community.

Affordability Calculator

See how your income compares to housing costs in Franklin County

Your Annual Household Income

Rent Burden

14.0%

of gross income

Max Housing (28% Rule)

$1,595

per month

Owner Cost Burden

13.8%

of gross income

The median home in Franklin County may be a stretch

Median home value is $222,800. Estimated monthly cost: $1,779 vs. your max of $1,595.

Rent Affordability Guide

Your rent-to-income ratio14.0%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Franklin County, Virginia?

Franklin County, Virginia has a median monthly rent of $797/mo and a median home value of $222,800. The affordability rating is Unaffordable, with rent making up approximately 21.0% of median household income.

What is the median rent in Franklin County?

The median gross rent in Franklin County is $797/mo. This is 30% below state average for Virginia.

Is Franklin County affordable?

Franklin County is rated Unaffordable based on rent-to-income ratio of 21.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Franklin County's rent compare to the state average?

Franklin County's median rent of $797/mo is 30% below state average of $1,140/mo for Virginia.

What is the median home value in Franklin County?

The median home value in Franklin County, Virginia is $222,800. This is 21% below the national median home value of $281,900.