Logo Franklin County Fair Market Rent FY 2020 Franklin County, VA HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Franklin County, VA :
$489 $544 $717 $893 $1,019
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 very low compared to the national average. This FMR area is less expensive than 75% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Franklin County is $717 per month.

The previous year, rent for a two-bedroom home was $700 per month. This is a 2.43% 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 0 people based on 2000 Census data.

Compared to the rest of Virginia, the Franklin County FMR area is less expensive than 93% of the state.

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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 $ 522
1-BR 1-Bedroom $ 581
2-BR 2-Bedroom $ 765
3-BR 3-Bedroom $ 953
4-BR 4-Bedroom $ 1087
Change Year:

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 0
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

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