Franklin County VA Data & Peer Group Rankings

Franklin County VA Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	57,781 (100%)
Population in Households	56,622 (98.0%)
Population in Families	46,633 (80.7%)
Population in Group Quarters¹	1,159 ( 2.0%)
Population Density	84
Diversity Index²	27


INCOME
Median Household Income	$52,342
Average Household Income	$70,161
% of Income for Mortgage⁴	17%
Per Capita Income	$28,457
Wealth Index⁵	79

HOUSING
Total HU (Housing Units)	30,902 (100%)
Owner Occupied HU	18,905 (61.2%)
Renter Occupied HU	4,497 (14.6%)
Vacant Housing Units	7,500 (24.3%)
Median Home Value	$207,125
Average Home Value	$300,801
Housing Affordability Index³	150

HOUSEHOLDS
Total Households	23,402
Average Household Size	2.42
Family Households	16,306
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.28%	0.43%
Households	0.26%	0.39%
Families	0.13%	0.29%
Median Household Income		0.71%
Per Capita Income		1.64%
Owner Occupied HU		0.37%

Franklin County VA - Peer Comparisons by Rank and Percentile

The table below compares Franklin County to the other 133 counties / independent cities and county equivalents in Virginia by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 32	77th
Population Density	# 80	41st
Median Household Income	# 68	50th
Housing Affordability Index	# 51	38th
Per Capita Income	# 66	51st
Diversity Index	# 103	23rd

Variable Description

Rank

Percentile

Total Population

# 32

77th

Population Density

# 80

41st

Median Household Income

# 68

50th

Housing Affordability Index

# 51

38th

Per Capita Income

# 66

51st

Diversity Index

# 103

23rd

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Franklin County VA Information

Franklin County VA Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Franklin County VA - Peer Comparisons by Rank and Percentile

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