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RentData.org Logo Franklin County Fair Market Rent FY 2023 Franklin County, VA HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Franklin County, VA :
$681 $690 $908 $1,105 $1,242
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Metro Area

Fair Market Rent prices in Franklin County are average compared to the national average. This FMR area is more expensive than 58% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Franklin County is $908 per month.

The previous year, rent for a two-bedroom home was $792 per month. This is a 14.65% increase year-over-year.

This FMR rate applies to Redwood, VA, Union Hall, VA, Henry, VA, Callaway, VA, Penhook, VA, Glade Hill, VA, Ferrum, VA, Wirtz, VA, Boones Mill, VA, Bassett, VA and other cities within the region. The Metro Code or CBSA code for this region is METRO40220N51067.

Additionally, This Fair Market Rent (FMR) area Franklin County, VA HUD Metro FMR Area spans one county or city in Virginia which is listed in the table below. Estimated population of Franklin County, VA HUD Metro FMR Area FMR area is 56,231 people based on latest Census data.

Compared to the rest of Virginia, the Franklin County FMR area is more expensive than 52% of the state.

Virginia Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Franklin County. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Franklin County

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 720
1-BR 1-Bedroom $ 729
2-BR 2-Bedroom $ 960
3-BR 3-Bedroom $ 1168
4-BR 4-Bedroom $ 1313
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Franklin County, VA HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Roanoke - Lynchburg.

County / Region Est. Population
Franklin County, VA Metro 56,231
Zip Codes in Franklin County, VA HUD Metro FMR Area

There are 13 unique zip codes in this Fair Market Rent (FMR) area:

24014, 24055, 24065, 24067, 24088, 24092, 24102, 24112, 24137, 24146, 24151, 24176 and 24184

Lookup Fair Market Rent by Zip Code

What's Next?

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