Market Snapshot
Report generated March 2026
| Indicator | Value |
|---|---|
| Population | 71,962 ↑ 4.9% since 2020 |
| Median Household Income | $71,386 4% below national median |
| Median Home Value | $240,900 |
| Unemployment Rate | 5.5% |
| Median Age | 40.9 years |
| Housing Vacancy Rate | 10.9% |
| Total Land Sales (Past 12 Months) | 185 transactions |
| Active Listings | 197 properties |
| Avg Days on Market | 82 days |
Rural Land Sales (1+ Acres) (Mar 2026 – Mar 2026)
| Metric | Value |
|---|---|
| Median Price/Acre | $12,218 |
| Recent Sales | 126 transactions |
| Avg Days on Market | 86 days |
| Avg Parcel Size | 13.20 acres |
| Active Listings | 127 properties |
Recent Rural Land Sales
| Date | Acres | Price | $/Acre | Location |
|---|---|---|---|---|
| Mar 2026 | 2.94 | $110,000 | $37,415 | Wirtz |
| Mar 2026 | 1.88 | $154,500 | $82,181 | Rocky Mount |
| Mar 2026 | 25.73 | $89,900 | $3,494 | Ferrum |
| Mar 2026 | 1.33 | $18,000 | $13,534 | Ferrum |
| Mar 2026 | 7.00 | $420,000 | $60,000 | Rocky Mount |
| Mar 2026 | 1.04 | $41,600 | $40,000 | Wirtz |
| Mar 2026 | 1.06 | $41,600 | $39,245 | Wirtz |
| Mar 2026 | 1.15 | $41,600 | $36,174 | Wirtz |
| Mar 2026 | 5.01 | $41,600 | $8,303 | Wirtz |
| Mar 2026 | 5.01 | $41,600 | $8,303 | Wirtz |
Suburban/Urban Land Sales (Under 1 Acre) (Feb 2026 – Mar 2026)
| Metric | Value |
|---|---|
| Median Lot Price | $53,750 |
| Recent Sales | 59 transactions |
| Avg Days on Market | 74 days |
| Avg Parcel Size | 0.60 acres |
| Active Listings | 70 properties |
Recent Suburban/Urban Land Sales
| Date | Acres | Price | Location |
|---|---|---|---|
| Mar 2026 | 0.42 | $30,000 | Union Hall |
| Mar 2026 | 0.45 | $5,000 | Hardy |
| Feb 2026 | 0.96 | $63,000 | Wirtz |
| Feb 2026 | 0.50 | $650,000 | Penhook |
| Feb 2026 | 0.61 | $35,000 | Moneta |
| Feb 2026 | 0.55 | $475,000 | Union Hall |
| Feb 2026 | 0.55 | $475,000 | Union Hall |
| Feb 2026 | 0.81 | $266,344 | Rocky Mount |
| Feb 2026 | 0.62 | $17,000 | Union Hall |
| Feb 2026 | 0.51 | $26,500 | Rocky Mount |
County Profile
| Demographic | Value |
|---|---|
| Total Population (2023) | 54,958 |
| Population (2020) | 54,477 |
| Population Growth | 0.88% |
| Median Household Income | $68,348 |
| Median Home Value | $222,800 |
| Total Housing Units | 28,344 |
| Vacant Housing Units | 5,860 |
| Housing Vacancy Rate | 20.7% |
| Median Age | 48.5 |
| Bachelor's Degree or Higher | 6,237 (11.3%) |
| Unemployment Rate (BLS) | 3.5% |
Market Overview
Franklin County, Virginia has a population of 54,958, which has grown 0.88% since 2020. The median household income is $68,348, below the national median of $74,580 by 8.4%. With a median home value of $222,800 and an unemployment rate of 3.5%, the local economy is moderate. The housing vacancy rate of 20.7% suggests soft market conditions. As part of Virginia, Franklin County benefits from the state's growing interest in vacant land investment. Recent rural land sales show a median price of $12,218 per acre, with properties averaging 13.20 acres. There are currently 197 active land listings in the county.
Related Resources
Nearby County Reports
Frequently Asked Questions
What is the current population of Franklin County, Virginia?
As of the 2023 American Community Survey, Franklin County has a population of 54,958. The county has grown 0.88% since the 2020 Census, indicating a growing community.
What is the median household income in Franklin County?
The median household income in Franklin County is $68,348, which is 8.4% below the national median of $74,580.
Is Franklin County growing or shrinking?
Franklin County is growing. The population has increased 0.88% since 2020.
What is the housing market like in Franklin County?
The median home value in Franklin County is $222,800. The housing vacancy rate is 20.7%, which suggests soft market conditions. The unemployment rate is 3.5%, indicating a moderate local economy. Recent rural land sales (1+ acres) show a median price of $12,218 per acre. Suburban/urban lots under 1 acre have a median lot price of $53,750.
Does Reelvest buy land in Franklin County, Virginia?
Yes! Reelvest Properties buys vacant land throughout Virginia, including Franklin County. 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.