23851 Franklin, VA is a great place to live for those looking for a lower cost of living. The average two bedroom rent in the area is only $1,020 compared to the national average of $1,430. Grocery costs are also quite low at 97 versus 100 nationally. In addition to its affordability, 23851 Franklin has much to offer in terms of entertainment, culture, and recreation. Local companies include the Southside Virginia Community College and the Southampton Memorial Hospital. Popular attractions in Franklin include Smith Mountain Lake State Park where visitors can enjoy swimming, fishing, and camping; the historic Booker T. Washington National Monument; and Claytor Lake State Park which offers a variety of outdoor activities including hiking and biking trails as well as boat rentals.
Franklin (zip 23851) has an unemployment rate of 8.6%. The US average is 6.0%.
Franklin (zip 23851) has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 21.5%, which is lower than the US average of 33.5%.
Tax Rates for Franklin (zip 23851)
- The Sales Tax Rate for Franklin (zip 23851) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Franklin (zip 23851) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Franklin (zip 23851)
- The average income of a Franklin (zip 23851) resident is $28,548 a year. The US average is $37,638 a year.
- The Median household income of a Franklin (zip 23851) resident is $54,274 a year. The US average is $69,021 a year.