Affordable

What Salary Do You Need to Live in Franklin Farm?

To afford a 2-bedroom in Franklin Farm, you need to earn at least $125,960/year based on estimated fair market rent data. The median household income here is $209,442, which means the typical resident is $83,482 above the threshold.

Census ACS Data Pop. 18,903

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$2,204	$7,347	$88,160	$-121,282
1 Bedroom	$2,614	$8,713	$104,560	$-104,882
2 Bedroom BENCHMARK	$3,149	$10,497	$125,960	$-83,482
3 Bedroom	$3,842	$12,807	$153,680	$-55,762
4 Bedroom	$4,724	$15,747	$188,960	$-20,482

Affordability Breakdown

Where the required salary line crosses above Franklin Farm's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$209,442

Annual household

2BR Required Salary

$125,960

Under 30% rule

Income Gap

+$83,482

Surplus

Verdict

Affordable

Ratio: 18.0%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Franklin Farm

Your Annual Salary

Pre-filled with Franklin Farm's median household income

Max monthly rent you can afford$5,236

Studio

$2,204/mo

1 BR

$2,614/mo

2 BR

$3,149/mo

3 BR

$3,842/mo

4 BR

$4,724/mo

Your salary is $0 above the median income in Franklin Farm.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Franklin Farm's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Franklin Farm

Franklin Farm, Virginia stands out as one of the more financially accessible housing markets in the state. The median household income of $209,442 significantly exceeds the $125,960 needed to comfortably afford a 2-bedroom at 30% of gross income — leaving a $83,482 annual surplus for savings, debt repayment, or lifestyle spending.

For remote workers or relocators evaluating Franklin Farm, a studio at $2,204/month offers an even more aggressive savings rate. Even a 3-bedroom at $3,842/month remains accessible for dual-income households earning above $153,680.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $188,940 would position you well — though many residents in Franklin Farm manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Franklin Farm, Virginia.

With a total population of 18,903, the city supports an active civilian workforce of 10,347 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $125,960 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

10,347

Active civilian employees in Franklin Farm

Frequently Asked Questions About Renting in Franklin Farm

What salary do I need to live in Franklin Farm, Virginia?

To afford a 2-bedroom in Franklin Farm under the 30% rule, you need an annual salary of at least $125,960. The median household income in Franklin Farm is $209,442.

Can I afford a 2-bedroom in Franklin Farm on $209,442?

The affordability verdict for Franklin Farm is "Affordable". The rent-to-income ratio is 18.0%, meaning median earners have a $83,482 surplus.

What is the average rent in Franklin Farm compared to median income?

The median gross rent in Franklin Farm is $2,614/month. With a median household income of $209,442, residents spend approximately 18.0% of their income on rent.

What salary do I need for a studio in Franklin Farm?

A studio in Franklin Farm rents for approximately $2,204/month. Under the 30% rule, you need an annual salary of $88,160 to afford this.

Is Franklin Farm considered an affordable place to live?

Based on the surplus of $83,482 and an affordability verdict of "Affordable", Franklin Farm is considered a affordable rental market when comparing the required 2-bedroom salary of $125,960 to the local median household income.

How Franklin Farm Compares

Other cities in Virginia with salary requirements