Franklin, Virginia Demographics & Population 2026
During the 2020–2024 ACS period, Franklin, Virginia had a total population of 8,250, the 151st largest city in Virginia, with a median household income of $63,245, which is 32% lower than the state average. The poverty rate is 19.4%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 32% below the state average, indicating significant economic challenges.
Franklin Quick Facts
How Franklin Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 8,212 | 8,250 | +0.5% |
| Median household income | $65,125 | $63,245 | -2.9% |
| Median home value | $227,200 | $256,600 | +12.9% |
How Franklin Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A diverse community with significant representation from multiple racial and ethnic groups.
State average: 61 | National average: 61
Education
Educational Attainment (Adults 25+)
Franklin Rankings in Virginia
Explore Virginia Rankings
Cities Similar to Franklin
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Vinton | 8,056 | $65,445 | $190,900 | 18.4% | 10.5% |
| Dumbarton | 7,997 | $60,169 | $291,300 | 31.0% | 12.1% |
| Ashland | 7,772 | $61,164 | $293,200 | 38.0% | 24.3% |
| Abingdon | 8,330 | $54,544 | $228,000 | 36.5% | 15.9% |
| Bedford | 7,724 | $70,288 | $222,500 | 27.9% | 12.2% |
Population Overview
Franklin is a small city located in Virginia. The total population is 8,250. It ranks as the 151st most populous out of 681 Census-designated places in Virginia.
Age Demographics
The median age in Franklin is 38.3 years. This is 2% lower than the state median of 39.0 years.
Economy, Income & Housing
The median household income in Franklin is $63,245. This is 32% lower than the state median of $93,170. It is also 22% lower than the national median of $80,734. The poverty rate stands at 19.4%. This is 96% higher than the state poverty rate of 9.9%. The unemployment rate is 7.9%. This is 86% higher than the state rate of 4.3%. The median home value is $256,600. Housing costs are 33% lower than the state median of $383,700. The home-value-to-income ratio is 4.1x. 53.9% of occupied housing units are owner-occupied. This homeownership rate is 20% lower than the state average of 67.3%.
Race & Ethnicity
The largest racial or ethnic group in Franklin is Black or African American, making up 54.8% of the population. White (non-Hispanic) residents account for 37.8%. The Black or African American population is significantly higher than the state average (54.8% vs 18.3%). The Hispanic or Latino population (3.2%) is well below the state average of 11.0%. The Asian population (0.0%) is well below the state average of 6.9%.
Education
27.3% of residents aged 25 and older hold a bachelor's degree or higher. This is 35% lower than the state rate of 42.2%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 86.2%.
Data Sources & Methodology
All demographic data for Franklin, Virginia is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Virginia state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 681 Census-designated places in Virginia. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Franklin, Virginia?
Franklin, Virginia has a population of 8,250 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Franklin, VA?
The median household income in Franklin is $63,245, which is 22% lower than the national median of $80,734.
What is the poverty rate in Franklin, VA?
The poverty rate in Franklin is 19.4%. This means approximately 1,567 residents live below the federal poverty line.
What is the racial makeup of Franklin, Virginia?
Franklin's population is 37.8% White, 54.8% Black, 3.2% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Franklin, VA?
The median home value in Franklin is $256,600. The home-value-to-income ratio is 4.1x.
How educated is Franklin, Virginia?
27.3% of adults (25+) in Franklin hold a bachelor's degree or higher, and 10.6% hold a graduate or professional degree.