Affordable & Income-Based Housing in Franklin

Affordability

According to Census ACS 5-Year data (as of 2024), the median gross rent in Franklin is $988 per month and the median household income is $63,245 annually. About 46% of residents rent their homes, meaning affordable housing options here serve a significant share of the local population.

Safety

According to the Franklin Police Department's data reported to the FBI Crime Data Explorer, Franklin had a violent crime rate of 461 per 100,000 residents in 2024. Crime rates are not comparable across cities due to differences in reporting practices and local definitions.

Of the 5 HUD-assisted properties in Franklin, none are located in a FEMA-designated high-risk flood zone, based on flood map data for these buildings.

Getting Around Franklin

According to Walk Score, the area around Franklin's assisted properties has a Walk Score of 50 (Car-Dependent) and a Bike Score of 37. No Transit Score is available for this area. Most errands and commutes will likely require a car.

Schools

According to NCES Common Core of Data, 4 schools across 2 districts serve Franklin, including 1 elementary and 1 high school, plus 2 additional schools at other levels. Ratings vary by school and district, so renters should check the assigned schools for a specific address.

Cost of Renting in Franklin, VA

The median household income in Franklin is $63,245 per year, according to Census ACS 5-Year estimates. The median gross rent is $988 per month, according to the same source.

Income-restricted housing in Franklin is designed to serve renters who earn below area income limits set by HUD. Qualifying households typically pay no more than 30 percent of their income toward rent, which can mean significant savings compared to market-rate rents.

• Median household income: $63,245/year (Census ACS 5-Year)
• Median gross rent: $988/month (Census ACS 5-Year)
• Share of households that rent: 46% (Census ACS 5-Year)

Flood and Environmental Exposure

All 5 HUD-assisted properties in Franklin have been mapped for flood risk. None are located in a high-risk flood zone, which is a reassuring baseline for renters concerned about flood exposure.