Franklin city, VA at a glance
Median household income
$63,245$5,270 per month · U.S. Census Bureau ACS 5-YearHow much rent can you afford in Franklin city, VA?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
How much is rent in Franklin city, VA? By bedroom, 2026
HUD's fiscal 2026 Fair Market Rents for Southampton County-Franklin city, VA HUD Nonmetro FMR Area, with the income each one takes if rent stays under 30% of it.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $811 | $9,732 | $32,440 | 15.4% |
| 1-Bedroom Apartment | $817 | $9,804 | $32,680 | 15.5% |
| 2-Bedroom ApartmentBenchmark | $1,051 | $12,612 | $42,040 | 19.9% |
| 3-Bedroom Home | $1,346 | $16,152 | $53,840 | 25.5% |
| 4-Bedroom Home | $1,764 | $21,168 | $70,560 | 33.5% |
What a typical income covers in Franklin city, VA
The 50/30/20 rule applied to the local median of $63,245 a year ($5,270 a month before tax).
What $63,245 leaves after Virginia taxes
Federal income tax, Social Security, Medicare and Virginia tax on the local median income. Change the salary to see yours.
Rent, jobs and pay in Virginia
Living in Franklin city, VA: common questions
What is the median household income in Franklin city, VA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Franklin city, VA is $63,245 per year (approximately $5,270 per month).
What is the average rent in Franklin city, VA?
The closest official figure is HUD's Fair Market Rent for 2026: $811 for a studio, $817 for one bedroom, $1,051 for two, $1,346 for three and $1,764 for four, utilities included.
It is not an average of listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so a new lease on a nicer place will usually cost more.
Is Franklin city, VA expensive to live in?
Prices there run 1.1% above the U.S. average. BEA's regional price parity for Virginia is 101.1, where the U.S. is 100. Rent moves the number most: housing is where places differ, while goods cost about the same everywhere.
How much do you need to earn to comfortably afford rent in Franklin city, VA?
To keep a $1,051 two-bedroom under 30% of gross income, a household needs about $42,040 a year, or $3,503 a month. That is 66% of what the typical household in Franklin city, VA earns.
How much do you need to live comfortably in Franklin city, VA?
On the local median income of $63,245 ($5,270 a month before tax), the 50/30/20 rule leaves $2,635 a month for needs like rent, utilities and groceries, $1,581 for everything else and $1,054 for savings or debt. A two-bedroom at $1,051 takes 40% of the needs share.
How much is the electric bill in Franklin city, VA?
Homes in Virginia paid 17.2¢ per kWh on average (EIA). At 900 kWh a month, a typical use, that is about $155. Your bill depends mostly on heating and cooling.