Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$235,735+2.4% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 22% have cut their price
Income needed to buy, per year$51,102About 1.0× the local median income ($51,516): affordable for a typical household
Days on market57 daysSlower than a year ago: buyers have time to negotiate
The typical home in Franklin City, VA is worth $235,735, up 2.4% from a year ago. That is well above what local incomes have historically supported: fair value is about $206,329, so the area is 14.3% overvalued. It is a buyer's market: homes take about 57 days to sell, listings are up 46% from a year ago, 22% of listings have had a price cut. A household needs about $51,102 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $51,516. In the latest IRS figures, 80 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$235,735
Change in 1 year
+2.4%
Overvalued %
+14.3%
Show 6 more
Fair home value
$206,329
Change in 5 years
+35.1%
Home value to income
4.6×
Monthly mortgage payment (20% down)
$1,278
Income needed to afford it
$51,102
Property tax rate
0.71%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,032
Market activity
Listings vs a year ago
+46.2%
Days on market
57
Listings with a price cut
22.2%
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Homes for sale
38
Pending sales per 100 listings
3
Asking price per sq ft
$157
People and jobs
Median household income
$51,516
Population change (1 year)
+0.9%
Unemployment rate
7.9%
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Population
8,478
Income adjusted for cost of living
$58,276
Net moves in (IRS)
+80
Cost of living (US = 100)
88.4
Schools, risk and environment
School rating (1 to 10)
1.4
FEMA hazard risk score (0 to 100)
7.5
Flood risk score
16.6
Show 3 more
Wildfire risk score
2.1
Walkability (1 to 20)
6.8
Road, rail and air noise
53 dB
Questions people ask
Is Franklin City, VA overvalued?
Home prices in Franklin City, VA are well above what local incomes have historically supported: fair value is about $206,329, so the area is 14.3% overvalued.
Is Franklin City, VA a buyer's or seller's market?
Franklin City, VA is a buyer's market: homes take about 57 days to sell, listings are up 46% from a year ago, 22% of listings have had a price cut.
Are home prices going down in Franklin City, VA?
Home values in Franklin City, VA are up 2.4% over the last year.
How much do you need to earn to buy a home in Franklin City, VA?
A household needs about $51,102 a year to afford the typical home in Franklin City, VA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $51,516.