Living in Ferrum, Virginia
Cost of living, income, home prices, rent and demographics of Ferrum · Census data 2020–2024
Ferrum has 1,774 residents with a median age of 21.8. The median household income is $40,435 (57% lower than the Virginia median), the median home value is $188,900, the median rent is $638/month.
Ferrum at a glance
- Population
- 1,774
- Median age
- 21.8State: 39
- Median household income
- $40,435State: $93,170
- Median home value
- $188,900State: $383,700
- Median rent
- $638/moState: $1,579
- Homeowners
- 69.5%
- Bachelor's degree or higher
- 29.1%
- Average commute
- 24 min
Is Ferrum a good place to live?
Pros: Home values 51% lower than the state median; an average commute of 24 minutes.
Cons: Median household income 57% lower than the Virginia median; unemployment of 7.3%; a poverty rate of 37.1%.
The weather is best in May–June and September–October.
Cost of living in Ferrum
Housing is the biggest part of the cost of living. In Ferrum the median home value is $188,900, 43% lower than the U.S. median. Renters pay a median of $638 per month, which is 24.4% of household income. Homeowners with a mortgage pay $1,228 a month in housing costs.
Ferrum median household income
The median household income in Ferrum is $40,435 and the income per person is $17,108. 37.1% of residents live below the poverty line (Virginia: 9.9%).
Housing in Ferrum: homes for sale and rent
- Housing units
- 406
- Owner-occupied
- 69.5%
- Renter-occupied
- 30.5%
- Vacant
- 0%Includes seasonal homes
- Median year built
- 1996
- Average household size
- 2.38
Ferrum demographics
- Population
- 1,774
- Median age
- 21.8
- Under 18
- 15.8%
- 65 and older
- 7.2%
- Households
- 406
- Foreign-born
- 0.6%
- Veterans
- 2.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Ferrum ›
Education in Ferrum
29.1% of adults 25 and older in Ferrum have a bachelor's degree or higher (Virginia: 42.2%), and 12.7% have a graduate or professional degree.
Jobs and commute in Ferrum
- Unemployment rate
- 7.3%State: 4.3%
- Average commute
- 24 minState: 27 min
- Work from home
- 23.1%
- Drive alone
- 46.5%
- Public transit
- 1.4%
- Walk to work
- 18%
- Homes with broadband
- 93.8%
Ferrum vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Ferrum | 1,774 | $40,435 | $188,900 | $638 |
| Henry Fork | 805 | $70,150 | — | $613 |
| Rocky Mount | 4,950 | $63,280 | $207,000 | $890 |
| Oak Level | 563 | $31,000 | $104,600 | — |
| Bassett | 1,031 | $45,563 | $242,500 | $599 |
| Boones Mill | 228 | $75,972 | $208,300 | $925 |
| Stanleytown | 1,386 | $40,000 | $143,900 | $630 |
| Collinsville | 7,139 | $52,158 | $146,700 | $746 |
| Fieldale | 783 | $45,114 | $93,300 | — |
More for people moving to Ferrum
Ferrum ZIP code ›Weather and climate ›Living in Ferrum: FAQ
What is the median household income in Ferrum, VA?
The median household income in Ferrum is $40,435, 57% 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 Ferrum?
The median home value in Ferrum is $188,900, compared with $383,700 in Virginia.
How much is rent in Ferrum?
The median gross rent in Ferrum is $638 per month, about 24.4% of household income.
Is Ferrum, VA a good place to live?
Pluses: home values 51% lower than the state median; an average commute of 24 minutes. Minuses: median household income 57% lower than the Virginia median; unemployment of 7.3%; a poverty rate of 37.1%.
What is the median age in Ferrum?
The median age in Ferrum is 21.8 years (Virginia: 39).
How long is the commute in Ferrum?
The average commute to work in Ferrum is 24 minutes; 23.1% of workers work from home.
What is the unemployment rate in Ferrum?
The unemployment rate in Ferrum is 7.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Ferrum?
29.1% of adults in Ferrum 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.
Last updated: