Franklin, VA housing market
The typical Franklin home is worth about $250,000, up 1.6% in a year, 40% below the Virginia typical home. Homes typically sell in 49 days, below asking.
Home values, sales, trends and how Franklin compares with the towns next door — updated as new data is published.
Franklin at a glance
A balanced market
About 4.6 months of supply: neither buyers nor sellers have a clear edge.
Typical home value, 2016–2026
Show as a table
| January | Franklin | Virginia |
|---|---|---|
| 2017 | $135,000 | $253,000 |
| 2018 | $140,000 | $263,000 |
| 2019 | $145,000 | $271,000 |
| 2020 | $153,000 | $284,000 |
| 2021 | $172,000 | $311,000 |
| 2022 | $199,000 | $345,000 |
| 2023 | $223,000 | $367,000 |
| 2024 | $229,000 | $386,000 |
| 2025 | $246,000 | $405,000 |
| 2026 | $247,000 | $411,000 |
| August 2026 | $250,000 | $415,000 |
No new homes permitted in 2019
No permits for new homes were issued in Franklin in 2019. The last year with any was 2017 (4 new homes).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Franklin's population fell by 402 even though 15 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Virginia: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 4 | 4 | 0 | $470,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 3 | 3 | 0 | $297,000 |
| 2014 | 3 | 3 | 0 | $297,000 |
| 2013 | 1 | 1 | 0 | $49,000 |
| 2012 | 1 | 1 | 0 | $49,000 |
| 2011 | 2 | 2 | 0 | $134,000 |
| 2010 | 1 | 1 | 0 | $60,000 |
| 2009 | 10 | 10 | 0 | $1.1 million |
| 2008 | 5 | 5 | 0 | $447,000 |
| 2007 | 21 | 21 | 0 | $2.9 million |
| 2006 | 80 | 80 | 0 | $14.2 million |
| 2005 | 62 | 62 | 0 | $7.3 million |
| 2004 | 45 | 39 | 6 | $5.7 million |
| 2003 | 34 | 26 | 8 | $3.1 million |
| 2002 | 16 | 8 | 8 | $1.1 million |
| 2001 | 53 | 21 | 32 | $3.6 million |
| 2000 | 6 | 6 | 0 | $808,000 |
Franklin's permit office didn't report to the Census in 2019, so the 2019 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Franklin and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2019 | Median income |
|---|---|---|---|---|---|
| Franklin | $250K | +1.6% | $1,100 | 0 | $63,245 |
| Camptown | — | +14.4%† | $1,100 | — | $85,560 |
† FHFA price index change, where Zillow has no home value for the town.
4 years of income
The typical Franklin home costs about 4 years of the town's median household income, less than across Virginia (4.5 years).
How Franklin ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,100
HUD's Fair Market Rent for a two-bedroom in Franklin is $1,100 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Franklin pay a median of $988, so moving in tends to cost more than staying put. A two-bedroom takes about 21% of the town's median household income.
Studio $870 · 4 bedrooms $1,840
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (23851; Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.