Living in Cave Spring, Virginia
Cost of living, income, home prices, rent and demographics of Cave Spring · Census data 2020–2024
Cave Spring has 25,742 residents with a median age of 42.4. The median household income is $87,539 (6% lower than the Virginia median), the median home value is $325,800, the median rent is $1,285/month.
Cave Spring at a glance
- Population
- 25,742
- Median age
- 42.4State: 39
- Median household income
- $87,539State: $93,170
- Median home value
- $325,800State: $383,700
- Median rent
- $1,285/moState: $1,579
- Homeowners
- 69.5%
- Bachelor's degree or higher
- 48.8%
- Average commute
- 20 min
Is Cave Spring a good place to live?
Pros: Home values 15% lower than the state median; an average commute of 20 minutes; unemployment of 2.9%; a poverty rate of 5.9%.
Cons: Median household income 6% lower than the Virginia median.
The weather is best in April–May and September–October.
Cost of living in Cave Spring
Housing is the biggest part of the cost of living. In Cave Spring the median home value is $325,800, about the same as the U.S. median. Renters pay a median of $1,285 per month, which is 24.7% of household income. Homeowners with a mortgage pay $1,668 a month in housing costs.
Cave Spring median household income
The median household income in Cave Spring is $87,539 and the income per person is $49,725. 5.9% of residents live below the poverty line (Virginia: 9.9%).
Housing in Cave Spring: homes for sale and rent
- Housing units
- 11,721
- Owner-occupied
- 69.5%
- Renter-occupied
- 30.5%
- Vacant
- 5.8%Includes seasonal homes
- Median year built
- 1977
- Average household size
- 2.33
Cave Spring demographics
- Population
- 25,742
- Median age
- 42.4
- Under 18
- 19.5%
- 65 and older
- 18.8%
- Households
- 11,043
- Foreign-born
- 11.3%
- Veterans
- 6.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Cave Spring ›
Education in Cave Spring
48.8% of adults 25 and older in Cave Spring have a bachelor's degree or higher (Virginia: 42.2%), and 18.4% have a graduate or professional degree.
Jobs and commute in Cave Spring
- Unemployment rate
- 2.9%State: 4.3%
- Average commute
- 20 minState: 27 min
- Work from home
- 17.8%
- Drive alone
- 73.1%
- Public transit
- 0.4%
- Walk to work
- 0.5%
- Homes with broadband
- 92.8%
Cave Spring vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Cave Spring | 25,742 | $87,539 | $325,800 | $1,285 |
| Roanoke | 98,355 | $55,378 | $190,500 | $996 |
| Salem | 25,618 | $66,725 | $258,600 | $1,133 |
| Glenvar | 829 | $49,083 | $264,100 | $1,036 |
| Vinton | 8,056 | $65,445 | $190,900 | $992 |
| Boones Mill | 228 | $75,972 | $208,300 | $925 |
| Hollins | 17,097 | $77,456 | $244,300 | $1,193 |
| Cloverdale | 3,208 | $79,975 | $359,900 | $921 |
| Lafayette | 628 | $34,596 | — | — |
More for people moving to Cave Spring
Cave Spring ZIP code ›Weather and climate ›Living in Cave Spring: FAQ
What is the median household income in Cave Spring, VA?
The median household income in Cave Spring is $87,539, 6% lower than the Virginia median of $93,170 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Cave Spring?
The median home value in Cave Spring is $325,800, compared with $383,700 in Virginia.
How much is rent in Cave Spring?
The median gross rent in Cave Spring is $1,285 per month, about 24.7% of household income.
Is Cave Spring, VA a good place to live?
Pluses: home values 15% lower than the state median; an average commute of 20 minutes; unemployment of 2.9%; a poverty rate of 5.9%. Minuses: median household income 6% lower than the Virginia median.
What is the median age in Cave Spring?
The median age in Cave Spring is 42.4 years (Virginia: 39).
How long is the commute in Cave Spring?
The average commute to work in Cave Spring is 20 minutes; 17.8% of workers work from home.
What is the unemployment rate in Cave Spring?
The unemployment rate in Cave Spring is 2.9% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Cave Spring?
48.8% of adults in Cave Spring have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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