Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 8,212 ↑ 0.4% since 2020 |
| Median Household Income | $65,125 13% below national median |
| Median Home Value | $227,200 |
| Unemployment Rate | 4.7% |
| Median Age | 40.5 years |
| Housing Vacancy Rate | 13.1% |
| Total Land Sales (Past 12 Months) | 2 transactions |
| Active Listings | 4 properties |
| Avg Days on Market | 557 days |
Rural Land Sales (1+ Acres) (Aug 2025 – Aug 2025)
| Metric | Value |
|---|---|
| Median Price/Acre | $3,373 |
| Recent Sales | 1 transactions |
| Avg Days on Market | 221 days |
| Avg Parcel Size | 26.68 acres |
| Active Listings | 3 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Address | City |
|---|---|---|---|---|---|
| Aug 2025 | 26.68 | $90,000 | $3,373 | 1104 N High St | Franklin |
Suburban/Urban Land Sales (Under 1 Acre) (Nov 2025 – Nov 2025)
| Metric | Value |
|---|---|
| Median Lot Price | $3,000 |
| Recent Sales | 1 transactions |
| Avg Days on Market | 125 days |
| Avg Parcel Size | 0.09 acres |
| Active Listings | 1 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Address | City |
|---|---|---|---|---|
| Nov 2025 | 0.09 | $3,000 | 420 Pine St | Franklin |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 8,212 |
| Population (2020) | 8,180 |
| Population Growth | 0.39% |
| Median Household Income | $65,125 |
| Median Home Value | $227,200 |
| Total Housing Units | 3,897 |
| Vacant Housing Units | 509 |
| Housing Vacancy Rate | 13.1% |
| Median Age | 40.5 |
| Bachelor's Degree or Higher | 880 (10.7%) |
| Unemployment Rate | 4.7% |
Market Overview
Franklin city, Virginia has a population of 8,212, which has grown 0.39% since 2020. The median household income is $65,125, below the national median of $74,580 by 12.7%. The housing vacancy rate of 13.1% suggests soft market conditions. Franklin city is part of Virginia's land market, attracting both local and out-of-state buyers. Recent rural land sales show a median price of $3,373 per acre, with properties averaging 26.70 acres. There are currently 4 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Franklin city, Virginia?
As of the 2023 American Community Survey, Franklin city has a population of 8,212. The county has grown 0.39% since the 2020 Census, indicating a growing community.
What is the median household income in Franklin city?
The median household income in Franklin city is $65,125, which is 12.7% below the national median of $74,580.
Is Franklin city growing or shrinking?
Franklin city is growing. The population has increased 0.39% since 2020.
What is the housing market like in Franklin city?
The median home value in Franklin city is $227,200. The housing vacancy rate is 13.1%, which suggests soft market conditions. The unemployment rate is 4.7%, reflecting the local economic conditions. Recent rural land sales (1+ acres) show a median price of $3,373 per acre. Suburban/urban lots under 1 acre have a median lot price of $145,000.
Does Reelvest buy land in Franklin city, Virginia?
Yes! Reelvest Properties buys vacant land throughout Virginia, including Franklin city. We make cash offers within 24-48 hours, close in 14-30 days, and pay all closing costs. Get your free cash offer today.
Data Sources: Market data reflects recent vacant land transactions in the county. Demographic data from U.S. Census Bureau American Community Survey (2023), Bureau of Labor Statistics (2025). Updated monthly.