Franklin City, Virginia home prices
Typical home $235,735 · +2.4% in a year · property tax 0.71%
The typical home in Franklin City is worth $235,735, 43% less than the Virginia typical home ($412,252). Values changed +2.4% in the past year and +35.1% over five years. Homeowners here pay a median 0.71% of their home's value in property tax each year ($1,673 on the typical home), versus 0.71% statewide.
Mortgage on the typical Franklin City home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $47,147 | $188,588 | $1,269 | $0 | $257 | $1,526 | $65,400 |
| 10% down | $23,573 | $212,161 | $1,427 | $88 | $257 | $1,773 | $76,000 |
| 5% down | $11,787 | $223,948 | $1,507 | $93 | $257 | $1,857 | $79,600 |
| 3.5% down (FHA) | $8,251 | $231,465 | $1,557 | $104 | $257 | $1,919 | $82,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.71% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Virginia · part of the Virginia Beach metro area.
Virginia counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Craig County | $241,906 | +7.3% | 0.56% |
| Lynchburg City | $243,511 | +0.2% | 0.79% |
| Richmond County | $244,453 | +3.2% | 0.56% |
| Prince Edward County | $244,569 | +7.3% | 0.43% |
| Pulaski County | $226,254 | +4.9% | 0.63% |
| Accomack County | $245,873 | +1.3% | 0.48% |
| Buckingham County | $247,828 | +2.8% | 0.52% |
| Roanoke City | $219,673 | +0.6% | 0.99% |
| Bath County | $219,212 | +7.3% | 0.39% |
| Hopewell City | $215,859 | +2.2% | 0.86% |
Frequently asked questions
What is the average home price in Franklin City, VA?
The typical home value in Franklin City is $235,735 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Franklin City?
About $65,400 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Franklin City?
The median effective rate is 0.71% of home value a year (Census ACS 2024 5-year estimates).