Franklin vs Richmond
The short version
- Overall prices are about the same in both metro areas (BEA 2024).
- The median home costs $353,000 in Richmond and $705,400 in Franklin.
- Households earn more in Franklin ($119,528 vs $64,587 median).
- Franklin is growing faster: +8% since 2020 vs +4.7%.
- Tennessee has no state income tax on wages; Virginia's top rate is 5.75%.
Side by side
| Franklin, TN | Richmond, VA | |
|---|---|---|
| People | ||
| Population (2025) | 90,226 | 237,257 |
| Growth since 2020 | +8% | +4.7% |
| People per square mile | 2,025 | 3,959 |
| Median age | 38.6 | 34.7 |
| Bachelor's degree or higher | 65% | 46% |
| Money and housing | ||
| Median household income | $119,528 | $64,587 |
| Median home value | $705,400 | $353,000 |
| Home value to income | 5.9× | 5.5× |
| Median rent (with utilities) | $1,923 | $1,372 |
| Metro price level (US = 100) | 96.3 | 97.9 |
| Housing price level (US = 100) | 104.6 | 99.1 |
| $75,000 elsewhere equals | $72,300 | $73,400 |
| Homeowners | 64% | 44% |
| Top state income tax | None | 5.75% |
| Combined sales tax | 9.61% | 5.77% |
| Work and commute | ||
| Average commute (minutes) | 23.9 | 21.7 |
| Work from home | 30% | 20% |
| Take public transit | 0% | 3% |
| Unemployment (2020-24 avg) | 2.2% | 5.7% |
| Poverty rate | 4.6% | 18.2% |
| Weather | ||
| January high / low | 49° / 29° | 48° / 29° |
| July high / low | 91° / 69° | 90° / 69° |
| Precipitation per year | 54 in | 46 in |
| Snowfall per year | 2 in | 9 in |
| Days 90°F or hotter | 45 | 45 |
| Nights below freezing | 84 | 74 |
| Comfortable months | 2 | 3 |
| Risks, air and home prices | ||
| Natural hazard risk (FEMA, county) | Relatively Moderate | Relatively Low |
| FEMA risk score (lower is safer) | 85.1 | 78.4 |
| Good air days, 2025 | 51% | 73% |
| Home prices, past year | +1.6% | +3.4% |
| Home prices, past 5 years | +45.8% | +47.7% |
Highlighted cells are the better value where "better" is clear (lower prices, higher income, shorter commutes). Sources: Census Bureau 2025 estimates and ACS 2020-2024, BEA 2024, NOAA 1991-2020, Tax Foundation 2026.
Weather, month by month
Most comfortable months: Franklin: September to October. Richmond: April to May and October.
Full monthly tables: Franklin weather by month and Richmond weather by month.
What $75,000 is worth
A $75,000 salary in an average-priced US city buys about the same as $72,300 in Franklin and $73,400 in Richmond. Moving from Franklin to Richmond, you would need about $76,200 to match a $75,000 salary.
Which would you pick?
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