Rent in Franklin, VA
A 2-bedroom in Franklin, VA (ZIP 23851) typically rents for about $1,036 a month, with a range of $961–$1,110. Owner-occupied homes in Franklin city pay about 0.71% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $940 | $874–$940 | 1 |
| 1 bed | $970 | $897–$970 | 1 |
| 2 beds | $1,036 | $961–$1,110 | 1 |
| 3 beds | $1,345 | $1,190–$1,500 | 1 |
| 4 beds | $1,850 | $1,725–$1,850 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Franklin ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Franklin, VA?
- About $1,036 a month: the median of the typical rents in 1 ZIP code, which range from $961–$1,110. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Franklin, VA?
- About $970 a month: the median of the typical rents in 1 ZIP code, which range from $897–$970. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Franklin, VA?
- About $1,345 a month: the median of the typical rents in 1 ZIP code, which range from $1,190–$1,500. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Franklin, VA?
- About $940 a month: the median of the typical rents in 1 ZIP code, which range from $874–$940. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Franklin, VA?
- About $1,850 a month: the median of the typical rents in 1 ZIP code, which range from $1,725–$1,850. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Franklin, VA?
- Owner-occupied homes in Franklin city pay a typical 0.71% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Franklin rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).