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Housing market/Virginia/ZIP 23851

ACS 2023 · FY2027 SAFMR

ZIP 23851 Franklin, Southampton County, Virginia

Southampton County-Franklin city, VA HUD Nonmetro FMR Area · Virginia. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
13,481
Households
5,398
Median HH income
$73,333
Renter share
39.2%
Median gross rent
$1,006
Vacancy
11.0%
Pop. change
+1.7%
2BR SAFMR
$1,110
SAFMR / rent
1.103×
2–49 unit stock
967
LIHTC proj / units
6 / 403
HUD assisted MF
5 / 430

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 23851 · VA — sent to you.

ZIP 23851 · VA

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ACS rent vs 2BR SAFMR

ZIP 23851 — Franklin, VA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,006
2BR SAFMR$1,110
90% floor$999
110% ceiling$1,221

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 23851

  • 1-unit detached4,58975.7%
  • 1-unit attached801.3%
  • 2–4 units5479.0%
  • 5–49 units4206.9%
  • 50+ units911.5%
  • Mobile3365.5%
TypeUnitsShare
1-unit detached4,58975.7%
1-unit attached801.3%
2 units (duplex)2914.8%
3–4 units2564.2%
5–9 units3465.7%
10–19 units701.2%
20–49 units40.1%
50+ units911.5%
Mobile3365.5%

2–4 unit share 9.0% · 5–49 unit share 6.9% · combined 2–49 15.9%.

Units by bedrooms

Studio
7
1BR
237
2BR
1,468
3BR
2,870
4BR
1,204
5+
277

Rent burden

Rent ≥30% of income35.9%
Rent ≥50% of income20.7%
  • ACS median gross rent $1,006 (all bedrooms, occupied rentals).
  • Median contract rent $711.
  • Renters paying ≥30% of income 35.9%; ≥50% 20.7%.
  • FY2027 2BR SAFMR $1,110 (1.103× ACS median gross rent).

Population

13,481 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +1.7%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 6 projects, 403 units.
  • HUD project-based assisted MF: 5 properties, 430 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 2 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 23851 39.2% of occupied households are renters; vacancy is 11.0%; ACS median gross rent is $1,006; population increased +1.7% between the 2018 and 2023 ACS vintages; the housing stock includes 547 units in 2–4-unit structures and 420 units in 5–49-unit structures; 6 LIHTC projects totaling 403 units; FY2027 2BR SAFMR is $1,110 versus ACS median gross rent of $1,006. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Virginia research

ZIP 23851 is a Census / HUD profile for Southampton County-Franklin city, VA HUD Nonmetro FMR Area, VA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 23851 — Franklin, VA HUD Section 8 Payment Standards / SAFMR·Virginia ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
23827Southampton County-Franklin city, VA HUD Nonmetro FMR Area34.8%$960$1,04023828Southampton County-Franklin city, VA HUD Nonmetro FMR Area1.8%—$1,03023829Southampton County-Franklin city, VA HUD Nonmetro FMR Area23.7%$852$94023837Southampton County-Franklin city, VA HUD Nonmetro FMR Area33.1%$939$1,07023844Southampton County-Franklin city, VA HUD Nonmetro FMR Area25.7%$1,588$99023847Southampton County-Franklin city, VA HUD Nonmetro FMR Area44.5%$1,010$1,00023866Southampton County-Franklin city, VA HUD Nonmetro FMR Area23.5%$1,261$1,37023867Southampton County-Franklin city, VA HUD Nonmetro FMR Area23.2%$1,034$1,05023874Southampton County-Franklin city, VA HUD Nonmetro FMR Area22.1%$889$1,03023878Southampton County-Franklin city, VA HUD Nonmetro FMR Area2.4%—$1,17023888Southampton County-Franklin city, VA HUD Nonmetro FMR Area31.3%$959$1,15023898Southampton County-Franklin city, VA HUD Nonmetro FMR Area31.5%$714$1,060

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Virginia research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 23851?

ZIP 23851 (Southampton County-Franklin city, VA HUD Nonmetro FMR Area) has 13,481 residents, 5,398 households, a renter share of 39.2%, median household income of $73,333, and ACS 2023 median gross rent of $1,006. Vacancy is 11.0%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 23851?

ACS counts 291 units in 2-unit buildings, 256 in 3–4 unit buildings, 346 in 5–9, 70 in 10–19, and 4 in 20–49. Combined 2–49 unit stock is 967 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 23851?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,110. See the full schedule and 90–110% payment-standard band on the ZIP 23851 — Franklin, VA HUD Section 8 Payment Standards / SAFMR.

Does this Virginia ZIP profile include Georgia listings?

No. ZIP 23851 is Census / HUD research for Southampton County-Franklin city, VA HUD Nonmetro FMR Area. Jeff Crowe CRE does not list Virginia property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.