Franklin County, Virginia Income Statistics
Franklin County Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
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C
Franklin County Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Franklin County | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $69,199 | $93,527 | $80,455 |
| Median Personal Income | $53,073 | $68,139 | $60,758 |
| Average Yearly Income Growth | 4.5% | 4.3% | 4.8% |
| Six-Figure Earners | 9.7% | 18.3% | 13.9% |
| $200k+ Households | 8.3% | 17.7% | 13.2% |
The median household income in Franklin County is about 26% lower than in Virginia. Income has been growing faster in Franklin County (4.5%/yr) than in Virginia (4.3%/yr).
About 10% of adults in Franklin County earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Franklin County, Virginia grew by 51.6% from 2009 to 2024, reaching $69,199 in 2024. That's an average of about 4.5% per year.
Income Inequality and the Gender Pay Gap in Franklin County
| Metric | Franklin County | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.544 | 0.552 |
| Male Median Income | $62,349 | $78,585 | $69,667 |
| Female Median Income | $46,812 | $62,626 | $56,850 |
| Gender Pay Gap | 24.9% | 20.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Franklin County, it is 0.537, lower than Virginia's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 33% more than women's income in Franklin County, Virginia. Over a 35-year career, a 33% wage gap accumulates to roughly $543,795 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Franklin County, Virginia has widened from about 14% to 25% in 2024. Over that period the gap was widest at 26% in 2022, and was narrowest at 9% in 2013. In dollar terms, the gap has widened by $10,364 since 2009.
Sharply against the trend: the pay gap in Franklin County widened by 11.0 points while Virginia's narrowed by 3.2 points.
Employment
| Metric | Franklin County | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.3% | 4.1% | 5.2% |
| Working from Home | 12.5% | 18.3% | 15.0% |
| Commute time (minutes) | 28 | 23 | 22 |
Approximately 593 people are unemployed in Franklin County, Virginia.
The average commute time in Franklin County is 28 minutes, longer than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Franklin County, Virginia has fallen from 7.7% to 2.3% in 2024. Over that period the rate peaked at 8.8% in 2012.
Franklin County, VA Wealth Compared With Nearby Counties
How Franklin County, VA compares with the 2 counties closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Franklin County, VA | 55,141 | $69,199 #2/3 | 4.5%/yr #2/3 | 2.3% #1/3 | 0.537 #3/3 |
| Henry County, VA | 49,976 | $50,747 | 4.8%/yr | 4.0% | 0.517 |
| Roanoke County, VA | 97,092 | $83,514 | 4.2%/yr | 2.7% | 0.521 |
Conclusion
Considering all these factors, Franklin County, Virginia has an overall wealth index grade of C, making it somewhat worse than Virginia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Franklin County, Virginia.
How Rich Is Franklin County, Virginia?
Franklin County has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $69,199, about 26% lower than the Virginia average of $93,527.
How fast is household income rising in Franklin County, Virginia?
Between 2009 and 2024, the median household income in Franklin County, Virginia rose 52%, from $45,640 to $69,199. Over the same years, income here lagged behind Virginia as a whole: +52% against +55%.
What was the median household income in Franklin County in 2023?
In 2023, the median household income in Franklin County, Virginia was $69,233, up 3% from $66,914 in 2022. The Virginia median that year was $91,420.
What was the median household income in Franklin County in 2020?
In 2020, the median household income in Franklin County, Virginia was $57,175. By 2024 it had risen 21% to $69,199.
Is unemployment high in Franklin County, Virginia?
Unemployment in Franklin County, Virginia is only 2.3%, well below the Virginia rate of 4.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Franklin County, Virginia?
The Gini coefficient in Franklin County is 0.537. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Franklin County, Virginia?
Since 2009, the income gap between men and women in Franklin County, Virginia has widened from about 14% to 25% in 2024. Over that period the gap was widest at 26% in 2022, and was narrowest at 9% in 2013. In dollar terms, the gap has widened by $10,364 since 2009.
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