Franklin city, Virginia: commercial real estate data.
Franklin city, Virginia has a population of 8,250 across 8 square miles, up 2.4 percent since the 2020 census base. 263 establishments operate here, and the SBA record carries 8 7(a) approvals worth $5.1 m.
100 sourced county values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Franklin city
How many people live in Franklin city
- Population8,250
- Households3,454
- Average household size2.39
- Median household income$63,245
- Median age38.3
- Median gross rent$988 per month
- Median owner-occupied home value$256,600
- Home value to household income4.1 times
- Annual rent as a share of median income18.7 percent
- Adults 25 and over with a bachelor degree or higher27.3 percent
- Adults 25 and over with a graduate degree10.6 percent
- Adults 25 and over5,591
- Population under 182,231
- Share under 1827.0 percent
- Population 65 and over1,534
- Share 65 and over18.6 percent
- Working age population, 18 to 644,485
- Civilian labor force3,520
- Unemployment rate7.9 percent
- Labor force participation, adults 18 and over58.5 percent
- Rank by population among Virginia independent cities119th of 133
- Rank by population among US county-equivalents2632nd
Franklin city is the 119th largest of 133 Virginia independent cities by population. A median home costs 4.1 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 27.0 percent against 18.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Franklin city
Is Franklin city's population growing?
- Population change since the 2020 census base2.40 percent
- Census 2020 base population8,177
- Births, 2024156
- Deaths, 2024185
- Natural change, 2024-29
- Net domestic migration, 202487
- Net international migration, 20240
- Total net migration, 202487
- Cumulative net domestic migration, 2021 to 2024321
- Rank by growth among US county-equivalents1038th
The county has grown 2.40 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Franklin city
Where are people moving to Franklin city from?
- Tax returns filed by households arriving296
- People arriving, from those returns568
- Adjusted gross income arriving$13.7 m
- Net adjusted gross income movement$0
- Average income of an arriving household$46,257
- Largest single originFranklin city Non-migrants (2,853 households)
- Largest single destination (2,853 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Franklin city Non-migrants | 2,853 | 5,637 | $168.4 m |
| Other flows - Same State | 131 | 253 | $6.5 m |
| Southampton County | 79 | 157 | $3.3 m |
| Suffolk city | 44 | 74 | $2.4 m |
| Other flows - Different State | 42 | 84 | $1.5 m |
| Other flows - South | 42 | 84 | $1.5 m |
The largest single source of arrivals is Franklin city Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Franklin city
Largest employers in Franklin city
- Covered employment, annual average3,982
- Establishments reporting320
- Average annual pay$41,607
- Average weekly wage$800
- Sector 44-45, employment893
- Sector 44-45, average annual pay$29,333
- Sector 52, employment115
- Sector 52, average annual pay$76,982
- Sector 56, employment113
- Sector 56, average annual pay$29,219
- Sector 31-33, employment96
- Sector 31-33, average annual pay$51,884
- Sector 81, employment96
- Sector 53, employment12
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 44-45 | 893 | 46 | $29,333 |
| Sector 52 | 115 | 18 | $76,982 |
| Sector 56 | 113 | 10 | $29,219 |
| Sector 31-33 | 96 | 9 | $51,884 |
| Sector 81 | 96 | 34 | $43,841 |
| Sector 53 | 12 | 8 | $42,406 |
The largest sector is the biggest private employer group at 893 jobs, 22.4 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Franklin city
How many businesses are in Franklin city?
- Establishments, all industries263
- Employment at those establishments3,369
- Annual payroll$101.9 m
- Establishments per 1,000 residents31.9
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Franklin city
SBA loans in Franklin city (7(a) and 504)
- 7(a) approvals recorded8
- 7(a) gross approval dollars$5.1 m
- Average 7(a) approval$634,113
- Median 7(a) approval$170,000
- 10th percentile approval$30,000
- 90th percentile approval$3,250,000
- Largest single approval$3,250,000
- Jobs reported supported, 7(a)127
- Jobs per approval15.9
- Distinct 7(a) lenders active6
- Distinct industries receiving approvals7
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer12.5 percent
- Loans on real estate terms1
- Loans on working capital terms, 120 months or shorter7
- Franchise loans3
- Franchise share of approvals37.5 percent
- Leading industry by approval countFitness and Recreational Sports Centers (2)
- Most active lenderThe Huntington National Bank (3)
- 504 approvals recorded3
- 504 gross approval dollars$6.1 m
- Average 504 approval$2,040,667
- Median 504 approval$413,000
- Distinct CDCs active2
- 504 jobs per approval12.3
- 504 jobs per million dollars approved6.0
- Most active CDCBusiness Finance Group, Inc. (2)
- 7(a) share of SBA approvals72.7 percent
- Combined SBA approval dollars$11.2 m
The average approval of $634,113 sits well above the median of $170,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 12.5 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Franklin city
SBA loan default and charge-off rates in Franklin city
Do SBA loans in Franklin city get paid back?
- Loans with a final outcome recorded1
- Paid in full1
- Charged off0
- Status: Paid in full1
- Status: Committed, not yet disbursed1
- Status: Exempt from disclosure5
- Status: Cancelled1
Too few loans have reached a final outcome to publish a charge off rate. only 1 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Franklin city
How large is Franklin city?
- Land area8 sq mi
- Rank by land area among Virginia independent cities123rd of 133
- Width, east to west3.2 mi
- Height, north to south4.2 mi
- Geographies sharing a boundary2
- Residents per square mile of land1,031
- Establishments per square mile32.88
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- The Building Permits Survey does not carry a 2024 record for this county.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Franklin city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Franklin city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population8,250
- Households3,454
- Average household size2.39
- Median household income$63,245
- Median age38.3
Common questions
Franklin city questions, answered from the record.
How many people live in Franklin city, Virginia?
8,250, in 3,454 households, ranking 119th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Franklin city's population growing?
The population has grown 2.40 percent since the 2020 census base. In 2024 there were 156 births against 185 deaths, with net migration of 87. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Franklin city?
$63,245. The median owner-occupied home is valued at $256,600, which is 4.1 times income, and median gross rent is $988 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Franklin city?
263 establishments, employing 3,369 people with an annual payroll of $101.9 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Franklin city?
Average annual pay is $41,607, or $800 a week, across 3,982 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Franklin city?
8 7(a) approvals totalling $5.1 m since FY2020, across 6 lenders, with a median approval of $170,000, plus 3 504 approvals worth $6.1 m. These are approvals recorded in the release, not loans disbursed.
What is the radon zone for Franklin city?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Franklin city come from?
The largest single origin is Franklin city Non-migrants, with 2,853 households. Arriving households report an average income of $46,257 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Franklin city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Franklin city?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.