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Virginia

Cost of living in Franklin city, VA

Estimated monthly cost
$2,961/mo
for a single person, all categories combined

Population 8,212 · Last updated May 21, 2026

Cost breakdown

Single person, by category, per month.

Rent $890 30%
Federal tax $489 17%
Healthcare $480 16%
Groceries $355 12%
Transport $320 11%
Energy $202 7%
State tax $170 6%
Water $55 2%

Rent in Franklin city

Fair Market Rents by bedroom count.

Studio
$884
per month
1 bedroom
$890
per month
2 bedroom
$1,167
per month
3 bedroom
$1,492
per month
4 bedroom
$1,960
per month

Source: HUD FMR FY2025

Income and earnings in Franklin city

Annual earnings figures from the Census ACS.

Household income
$65,125
per year
Individual earnings
$39,934
per year
Per capita
$31,838
per year

Source: ACS 2019-2023 5-Year.

Home values in Franklin city

Average values reported by homeowners.

Average home value
$227,200
Annual property tax
$1,677

Source: ACS 2019-2023 5-Year

Energy costs in Franklin city

Estimated monthly electricity and gas costs.

Electricity
$153
per month · 14.6¢/kWh
Natural gas
$49
per month
Annual total
$2,424
per year

Source: EIA

Healthcare in Franklin city

Insurance premiums and coverage rates.

Individual premium
$480
per month
Family premium
$1,350
per month
Uninsured rate
3.5%

Source: ACS + national avg. Marketplace benchmark premiums are second-lowest Silver plan estimates and do not reflect employer plans, subsidies, or out-of-pocket costs. This is not healthcare advice.

Taxes in Franklin city

State and local tax rates for Virginia.

State income tax
5.8%
Top marginal rate
State sales tax
5.3%
Combined sales tax
5.8%
incl. average local

Tax rates change. Consult a qualified tax professional for advice on your specific situation. This is not tax advice.

Transportation in Franklin city

Commute patterns and estimated costs.

Average commute
20.7 min
Drive alone
86.0%
Public transit
0.1%
Work from home
3.4%

Source: ACS

Monthly cost estimates for Franklin city

What it costs to live in Franklin city each month.

Single person
$2,961
per month
  • Rent $890
  • Energy $202
  • Water $55
  • Groceries $355
  • Transport $320
  • Healthcare $480
  • Federal tax $489
  • State tax $170
Couple
$4,373
per month
  • Rent $1,167
  • Energy $242
  • Water $65
  • Groceries $588
  • Transport $420
  • Healthcare $864
  • Federal tax $736
  • State tax $291
Family
$6,860
per month
  • Rent $1,492
  • Energy $303
  • Water $75
  • Groceries $893
  • Transport $520
  • Healthcare $1,350
  • Childcare $1,200
  • Federal tax $736
  • State tax $291

Frequently asked questions about Franklin city

Common questions about cost of living, rent and salary.

What is the average rent in Franklin city?

In Franklin city, VA, a one-bedroom apartment averages $890 per month, a two-bedroom averages $1,167 per month, a three-bedroom averages $1,492 per month, according to HUD Fair Market Rent data.

What is the average salary in Franklin city?

In Franklin city, VA, the average household income is $65,125 per year and individual earnings for full-time workers average $39,934 per year, according to U.S. Census Bureau data.

What is the cost of living in Franklin city?

The estimated cost of living in Franklin city, VA is approximately $2,961 per month for a single person, $4,373 for a couple, $6,860 for a family. This includes rent, utilities, groceries, transportation, healthcare, and taxes.

What is the sales tax rate in Franklin city?

The combined sales tax rate in Franklin city, VA is 5.75%, which includes the Virginia state rate of 5.30% plus an average local rate of 0.45%.

Is Franklin city an affordable place to live?

Based on the data, a single person in Franklin city, VA would need approximately $2,961 per month to cover rent, utilities, food, transport, healthcare, and taxes. The average household income is $65,125 per year ($5,427 per month). Franklin city has a moderate cost of living relative to local earnings.

How much does healthcare cost in Franklin city?

The ACA marketplace benchmark premium in Franklin city, VA is approximately $480 per month for an individual. Approximately 3.5% of residents are uninsured. Actual costs vary based on employer coverage, plan type, and individual circumstances.

What are house prices in Franklin city?

The average home value in Franklin city, VA is $227,200, with average annual property taxes of $1,677, according to U.S. Census Bureau data.

How does Franklin city compare to other areas?

You can compare Franklin city, VA with any other US county using our comparison tool at /compare. Franklin city is in Virginia.

Other counties in Virginia

Browse the full list of counties in Virginia, ranked by cost of living.

See all counties in Virginia

Compare Franklin city with another area

Put two counties side by side to see how rent, taxes and everyday costs stack up.

About this data

All figures on this page come from official U.S. government sources, listed below.

  • HUD FMR FY2025
  • ACS 2019-2023 5-Year
  • EIA
  • ACS + national avg
  • ACS
  • USDA + BEA RPP
Methodology All data sources