The story of this market
The typical home in Franklin County, Virginia sells for about $438,585, or $201 per square foot.
Prices are up +9.1% from a year ago, so sellers still have some momentum. Homes take about 39 days to sell. Over the long run, values in this county have grown 138% since 2000. Last year 10 of 16 neighborhoods saw prices rise, so the story isn't the same street to street. HUD's fair market rent for a two-bedroom is $1,080 a month.
HUD sets the fair market rent for a 2-bedroom at $1,080 a month. FEMA's National Risk Index rates overall hazard risk here as Very Low.
Price climate
Every year of price change, 2000–2025
+0.4%
2025
Each stripe is one year's median price change across the area's census tracts (FHFA repeat-sales index). Deep blue is a strong gain year, red a falling year. Best: 2022 (+14.8%). Worst: 2010 (-6.2%). Hover to read a year.
Monthly price momentum
Home values since 2015
+2.6%
VA · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Rent benchmark
Fair market rent by size
$1,495
3-bed / month
HUD Fair Market Rents, fiscal 2027, for this county. A typical rent for a modest unit, used to set housing-voucher payments.
Neighborhood price trend
Long-run price trend, 2000–2025
+0.4%
2025 change
FHFA repeat-sales index, median of 16 census tracts in this county (2000 = 100). Bars are each year's median change.
Natural hazard exposure
The area's risk shape
20
Very Low
FEMA National Risk Index. Each spoke is a hazard ranked nationally, where 100 is the most exposed. Expected annual loss: $11,012,843.
Mortgage activity
Home lending in this county
77.5%
2018 approval rate
| Year | Applications | Loans made | Approval | Investor share | Median home value |
|---|---|---|---|---|---|
| 2018 | 2432 | 1362 | 77.5% | 4.3% | $195,000 |
CFPB Home Mortgage Disclosure Act records: every mortgage application reported by lenders for homes in this county. Approval rate is approved ÷ decided (withdrawn and incomplete files excluded). Investor share and home value are the median census tract.
Franklin County, Virginia
Franklin County's residential real estate market remains healthy with median sale prices climbing 9.1% year-over-year to $438,585, driven largely by sustained buyer demand for Smith Mountain Lake resort properties and scenic rural acreage. Homes spend a median of 39 days on the market and close at 97.5% of list price, reflecting a balanced yet resilient marketplace supported by low county property tax rates and limited active single-family supply.
No ARED distress-ledger coverage for this county yet — the foreclosure ingest rotates the national county directory, and filings appear here once the county's posted notices are read. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Select a city to expand its ZIP intel reports beneath · 10 cities · 11 ZIP reports
Median prices moved up 1.9% year over year.
Homes spend a median of 23 days on market with 0.6 months of supply — a fast-moving market.
4% of listings have cut prices · homes sell at 62.03% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.4% · poverty 11.2% — a stable, low-distress profile.
ACS 2024 5-year estimates. Aggregate published statistics for this county — never individual records, and never an attribute of any individual property or resident.
Deterministic aggregate of 10 researched ZIP reports of 11 — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Franklin County, Virginia — researched county-level history with a deterministic 1 / 3 / 5-year projection
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 9.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
No researched properties in this county yet — the property base layer populates as property research runs, and each property feeds its ZIP's roll-up.
researched Sep 16
researched Sep 16
researched Sep 16
researched Sep 16
researched Sep 17
researched Sep 20
researched Sep 16
researched Sep 20
researched Sep 20
researched Sep 16
| 24065 | Boones Mill | $249,625 | $137 | -0.5% | 18 | 100% | — | 3.7 | 385 | $851 | researched Sep 16 |
| 24067 | Callaway | $249,625 | $137 | -0.5% | 18 | — | — | — | 1,091 | $680 | researched Sep 16 |
| 24070 | Henry | $181,000 | $105 | +11.5% | 62 | 97.5% | 18% | 4.2 | 51 | $850 | researched Sep 16 |
| 24088 | Ferrum | $379,450 | $153 | +0.7% | 42 | 100% | 25% | 4.2 | 611 | $643 | researched Sep 16 |
| 24092 | Glade Hill | $268,000 | $137 | +2.6% | 18 | 98.5% | 22% | 1.3 | 500 | $715 | researched Sep 17 |
| 24101 | Hardy | $249,625 | $137 | -0.5% | 18 | 98.2% | 25% | 1.6 | 622 | $995 | researched Sep 20 |
| 24102 | Henry | $249,625 | $137 | -0.5% | 18 | 98.5% | 25% | 2.7 | 1,053 | $574 | researched Sep 16 |
| 24137 | Penhook | $368,000 | $148 | +0.7% | 16 | 98.8% | 25% | 4.8 | 611 | $935 | researched Sep 20 |
| 24151 | Rocky Mount | $190,800 | $137 | +0.7% | 18 | 98.5% | 25% | 5.2 | 8,707 | $808 | researched Sep 20 |
| 24176 | Union Hall | $249,100 | $137 | 0% | 45 | — | — | — | 611 | $1,200 | researched Sep 16 |
Figures are each ZIP report's own latest research — the county roll-up aggregates them sales_count-weighted (population fallback); ZIPs cycle quarterly.
Franklin County records crime rates noticeably lower than both Virginia statewide and national benchmarks. Incidents are largely concentrated in localized commercial pockets, while rural and Smith Mountain Lake residential sectors maintain exceptionally low property and violent crime rates.
Franklin County Public Schools serves the jurisdiction with generally solid community standing, led by high-performing elementary schools such as Callaway Elementary (rated 10/10 by GreatSchools). Franklin County High School in Rocky Mount acts as the consolidated secondary education hub.
Flood risks are primarily localized around low-lying tributaries, the Blackwater and Pigg Rivers, and waterfront shoreline developments along Smith Mountain Lake. Wildfire risk is moderate in heavily forested Blue Ridge foothill parcels, while wind damage from severe convective storms and tropical remnants represents an occasional insurance exposure.
Franklin County's economic momentum is anchored by advanced manufacturing, healthcare, agriculture, and strong recreational tourism surrounding Smith Mountain Lake. Ongoing expansion of industrial park infrastructure along US-220 supports logistical and manufacturing employment connected to the Roanoke metropolitan corridor.
Real estate in Franklin County is taxed at a base county nominal rate of $0.61 per $100 of assessed value, assessed at 100% fair market value on a four-year reassessment cycle. The Town of Rocky Mount assesses an additional municipal levy, and countywide tax relief programs are available for qualifying seniors, disabled persons, and land preservation via agricultural use valuation.
Franklin County features extensive outdoor recreation led by Smith Mountain Lake, which offers over 500 miles of shoreline for boating, fishing, and water sports. Additional local amenities include the Blue Ridge Parkway corridor, Philpott Lake, the Harvester Performance Center in Rocky Mount, and Waid Recreation Park's extensive trail and disc golf system.
The rental market displays bifurcated conditions, with long-term rental stock relatively tight throughout Rocky Mount and inland corridors alongside a large seasonal short-term vacation rental inventory along Smith Mountain Lake. Median gross rents remain affordable compared to urban Virginia centers, while investor activity concentrates heavily in waterfront vacation homes.
Franklin County's economy is characterized by a balance of traditional manufacturing, healthcare services, retail commerce, and agricultural timber operations, augmented by a vibrant leisure and tourism economy driven by Smith Mountain Lake. Its proximity to the Roanoke metropolitan labor market also supports a significant commuter workforce.
The primary transportation artery is US Route 220, running north-south through Rocky Mount and providing direct four-lane highway connectivity to Roanoke and Interstate 81. East-west traffic is served by Route 40 and Route 122, with public transportation limited to specialized rural on-demand transit providers.
County planning emphasizes preserving agricultural and forestry conservation zones while steering commercial growth into established enterprise corridors along US-220 and designated mixed-use growth boundaries near Smith Mountain Lake.
Property valuation is administered by the Franklin County Commissioner of the Revenue and conducted via comprehensive general reassessments every four years to reflect 100% fair market value in accordance with Virginia constitutional law.
Franklin County is part of the Western Virginia Water Authority service boundary in selected joint service zones, the Blue Ridge Community Services region, and the Virginia Western Community College district, without overlapping multi-tier independent municipal utility or drainage tax districts.
Homeowners insurance availability in Franklin County remains stable, with standard peril coverages available across traditional insurers. Premiums skew higher for waterfront parcels along Smith Mountain Lake due to flood insurance requirements and dock coverage, while rural woodland homes may see specialized brush fire exposure reviews.
- Splash Valley4.428.6 mi
- Launching Pad Trampoline Park & Family Fun Center4.325.1 mi
- Sky Zone Trampoline Park4.126.6 mi
- Green Ridge Recreation Center4.428.6 mi
- Chuck E. Cheese4.220.9 mi
- Martinsville Speedway4.721.6 mi
- Salem Civic Center4.226.1 mi
- Berglund Center423.8 mi
- Golden Corral Buffet & Grill4.426.8 mi
- Floyd Country Store4.827.2 mi
- Fairy Stone State Park4.618.2 mi
- Virginia Museum of Natural History4.718 mi
- Smith Mountain Lake Community Park4.715.3 mi
- Waid Recreation Park4.86.3 mi
- Virginia Dare Cruises & Marina4.316.1 mi
- Fairy Stone State Park4.618.2 mi
- Virginia Museum of Transportation4.723.5 mi
- Black Dog Salvage - Main Showroom4.723.5 mi
- Taubman Museum of Art4.723.3 mi
- Virginia Museum of Natural History4.718 mi
- Smith Mountain Lake State Park4.716.5 mi
- Fairy Stone State Park4.618.2 mi
- Smith Mountain Lake Beach4.515.9 mi
- Smith Mountain Lake Community Park4.715.3 mi
- Waid Recreation Park4.86.3 mi
- Drifter's4.317 mi
- Mitchell's Point Marina4.716.9 mi
- Magnum Point Marina & Restaurant4.57.9 mi
- Gills Creek Marina & Lodge4.711.4 mi
- Goodhue Boat Company, Blackwater4.513.1 mi
- Mariners Landing Country Club3.617.7 mi
- Copper Cove Golf Club414.3 mi
- Beaver Creek Golf Course4.414.7 mi
- Homestead Creamery4.811.1 mi
- Bridgewater Plaza4.616.3 mi
- Marshalls4.417.3 mi
- Belk4.217.3 mi
- Westlake Towne Center4.413.4 mi
- Roanoke-Blacksburg Airport4.227 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
The amenity base that shapes daily life and property demand in this county — what residents actually live with, and what the pipeline is adding.
A 20,600-acre reservoir known as the 'Jewel of the Blue Ridge,' providing premier freshwater boating, competitive bass fishing, shoreline recreation, and luxury residential communities.
A premier mid-sized concert and arts auditorium in downtown Rocky Mount attracting national touring acts across diverse musical genres, drawing visitors across southwestern Virginia.
A large multi-use park on the Pigg River featuring miles of singletrack mountain bike and walking trails, an equestrian area, sports fields, kayak launches, and disc golf.
Direct access points along the county's western boundary offering panoramic Appalachian mountain vistas, scenic driving, road biking, and hiking connections.
Preserves the birthplace of Booker T. Washington, featuring historical reconstructions, living history exhibits, walking trails, and educational community programming.
Data fetched directly from U.S. Census Bureau QuickFacts and 2020-2024 American Community Survey estimates for Franklin County, VA.