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Franklin city, VA

ZIP 23851 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 23851

Median Home Value
$222,700
Median Rent
$711
Affordability Snapshot
$61,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,431/mo PITI).

12%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.0x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

26.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 23851 in Franklin city, VA, a household would need roughly $61,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,431. That sits below the local median household income ($73,333), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
60.8%-7% vs US avg
x
Vacancy Rate
11.0%+7% vs US avg
x
Broadband Access
88.0%+1% vs US avg
x
4+ Bedrooms
4.6%-69% vs US avg
x
Built Pre-1939
4.1%-68% vs US avg
x
Built Post-2014
0.6%-91% vs US avg
x
Rent Burden >30%
20.7%-58% vs US avg
x
Mortgage-Free
40.6%+6% vs US avg
x
$222,700
Home Value
$711
Rent
1972
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached75.7%
  • 1-unit attached1.3%
  • 2-9 units14.7%
  • 10+ units2.7%
  • Mobile home & other5.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$222,700
Median rent$711
Owner-occupied60.8%
Vacant11.0%
Price-to-income3.0x
Est. income to buy$61,000