RANK #95 / 1001 NAT · #1 / 37 VA · POP 55,130
1YR FORECAST: +1.7%
5YR OUTLOOK: +36%
Franklin County, Virginia, known as the "Land Between the Lakes and the Blue Ridge Mountains," offers a blend of natural beauty and small-town character. Located in the Blue Ridge foothills, with its county seat in Rocky Mount, it is part of the broader Roanoke metropolitan area. The county is bordered by Smith Mountain Lake to the east and Philpott Lake to the south, providing extensive opportunities for fishing, boating, and other water sports. Outdoor enthusiasts can explore numerous hiking and biking trails, including those in Waid Park and along the Blue Ridge Parkway. Commute options include regional ride-sharing services and a bus service connecting to Rocky Mount and Roanoke. Franklin County Public Schools serves the area with 14 schools.
Life in Franklin County often appeals to those seeking a quieter pace with access to outdoor activities. The community values its farms, forests, and cultural heritage, with agriculture historically playing a significant role. While the county has seen some economic development, including a new business park, local leaders have expressed a desire for more new businesses. There has been recent discussion regarding the potential for data centers to locate in the county, with some residents expressing concerns about their impact on local resources and infrastructure.
Franklin County's data profile doesn't fit any single market profile cleanly — its housing, labor, and demographic signals pull in different directions (home prices +3.3% YoY, population +0.3%, wages +4.9%). About 414 U.S. counties show this kind of mixed-signal pattern.
See all 414 Idiosyncratic Markets counties →Overvalued relative to economy
Moderate climate & terrain
Prices detached from rents
Housing looks overvalued at 17.1x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Proposed Data Centers (Multiple)
Undisclosed
|
$500M | Proposed/Under Discussion |
|
Union Hall Jacks Creek Rd Solar Project
CEP Solar
|
$50M | Approved by Board of Supervisors |
|
Summit View Business Park Natural Gas Expansion
Roanoke Gas
|
$50M | Under Construction/Operating |
|
Traditional Medicinals Facility at Summit View Business Park
Traditional Medicinals
|
$50M | Under Construction |
|
Oak Level - Tank Hill 138 kV Solar Project
Undisclosed (Cleanview Pro)
|
$35M | Planned |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 1001 counties.
Franklin County ranks #95 out of 1001 U.S. counties on the Boom Town Index with a score of 90/100, putting it in the top tier nationally. Job growth of +0.9% and a median household income of $68,849 point to a county with active economic momentum.
Housing in Franklin County is roughly in line with national affordability norms. The median home costs $240,400 and the income-to-home-value ratio sits at 0.29, with rents averaging $829/month. Not a bargain, but not a stretch for most local earners either.
Population and employment in Franklin County are both close to flat — population +0.3% YoY and jobs +0.9%. Home values shifted +3.3% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.
There's a moderate stream of newcomers. About 3.24% of residents moved from another state, which is above average and suggests Franklin County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.