Franklin Farm, VA
Population 18,509 · Virginia
About Franklin Farm, VA
Franklin Farm is a mid-sized city located in Virginia with a population of 18,509 residents according to the latest US Census Bureau American Community Survey data. The median household income is $210,169 per year, which is 180% above the national median of $75,149. The median age of 43 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Franklin Farm features a median home value of $810,600, which is 231% above the national median of $244,900. This places Franklin Farm in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,697, 132% above the national average of $1,163/month. Of the 6,242 total housing units, 93% are owner-occupied (5,713 units) and 7% are renter-occupied (444 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Franklin Farm shows an unemployment rate of 2.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 1.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Franklin Farm have an average one-way commute time of 29.8 minutes.
Education & Demographics
78.0% of Franklin Farm residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.6% White, 0.9% Hispanic or Latino, 0.4% Black or African American, and 5.3% Asian residents, with 21.7% of the population being foreign-born.
How Franklin Farm Ranks in Virginia
Cost of Living in Franklin Farm, VA
Compared to national averages, Franklin Farm has a median household income of $210,169 (180% above the national median of $75,149). Home values average $810,600, which is 231% above the national median. Monthly rent at $2,697 is 132% above the US average of $1,163. Within Virginia, Franklin Farm's income is 139% above the state average of $87,957, and home values are 148% above the state median of $327,514.
Why Live in Franklin Farm, VA?
Franklin Farm offers a strong local economy with a median household income of $210,169, well above the national average, and a strong job market with an unemployment rate of just 2.6%, and a well-educated community where 78.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 1.8%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $810,600. However, Franklin Farm’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Franklin Farm has a population of 18,509 with a median age of 43 years. Compare Franklin Farm with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Franklin Farm
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sudley | 18,420 | $92,101 | $417,100 | Compare |
| Midlothian | 18,702 | $105,927 | $381,600 | Compare |
| Colonial Heights | 18,210 | $76,250 | $231,700 | Compare |
| Laurel | 18,180 | $69,932 | $272,300 | Compare |
| Franconia | 18,141 | $152,007 | $557,800 | Compare |
| Gainesville | 18,036 | $168,978 | $660,800 | Compare |
| Hybla Valley | 17,877 | $72,068 | $523,000 | Compare |
| Idylwood | 17,469 | $118,443 | $708,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Franklin Farm With Other Cities
Frequently Asked Questions about Franklin Farm
What is the population of Franklin Farm, VA?
The population of Franklin Farm, VA is 18,509 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Virginia.
What is the median household income in Franklin Farm?
The median household income in Franklin Farm, VA is $210,169 per year, which is 180% above the national median of $75,149.
What is the median home value in Franklin Farm?
The median home value in Franklin Farm, VA is $810,600, which is 231% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Franklin Farm?
The median monthly rent in Franklin Farm, VA is $2,697, which is 132% above the national average of $1,163/month.
What is the unemployment rate in Franklin Farm?
The unemployment rate in Franklin Farm, VA is 2.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Franklin Farm, VA a good place to live?
Franklin Farm offers above-average incomes, a competitive housing market, and a strong job market. With a population of 18,509 and a median age of 43, the city appeals to a broad range of residents.
How educated is Franklin Farm, VA?
78.0% of residents in Franklin Farm aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Franklin Farm?
Key cost-of-living indicators for Franklin Farm, VA: median home value is $810,600 (231% above national), median rent is $2,697/month, and median household income is $210,169. The home-value-to-income ratio is 3.9x, a moderate figure by national standards.
What is the poverty rate in Franklin Farm?
The poverty rate in Franklin Farm, VA is 1.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Franklin Farm, VA?
Franklin Farm's population is 1.6% White, 0.9% Hispanic or Latino, 0.4% Black or African American, 5.3% Asian, and 3.3% two or more races. 21.7% of residents are foreign-born.