Living in New Market, Virginia
Cost of living, income, home prices, rent and demographics of New Market · Census data 2020–2024
New Market has 2,342 residents with a median age of 49.8. The median household income is $51,410 (45% lower than the Virginia median), the median home value is $272,900, the median rent is $919/month.
New Market at a glance
- Population
- 2,342
- Median age
- 49.8State: 39
- Median household income
- $51,410State: $93,170
- Median home value
- $272,900State: $383,700
- Median rent
- $919/moState: $1,579
- Homeowners
- 42.9%
- Bachelor's degree or higher
- 19.7%
- Average commute
- 24 min
Is New Market a good place to live?
Pros: Home values 29% lower than the state median; an average commute of 24 minutes.
Cons: Median household income 45% lower than the Virginia median; unemployment of 6.5%; a poverty rate of 11.1%.
The weather is best in May–June and August–September.
Cost of living in New Market
Housing is the biggest part of the cost of living. In New Market the median home value is $272,900, 18% lower than the U.S. median. Renters pay a median of $919 per month, which is 27.7% of household income. Homeowners with a mortgage pay $1,299 a month in housing costs.
New Market median household income
The median household income in New Market is $51,410 and the income per person is $31,839. 11.1% of residents live below the poverty line (Virginia: 9.9%).
Housing in New Market: homes for sale and rent
- Housing units
- 1,144
- Owner-occupied
- 42.9%
- Renter-occupied
- 57.1%
- Vacant
- 7.5%Includes seasonal homes
- Median year built
- 1984
- Average household size
- 2.09
New Market demographics
- Population
- 2,342
- Median age
- 49.8
- Under 18
- 15.7%
- 65 and older
- 36.2%
- Households
- 1,058
- Foreign-born
- 4.4%
- Veterans
- 13.9%Adults 18+
Hispanic or Latino can be of any race. Population history of New Market ›
Education in New Market
19.7% of adults 25 and older in New Market have a bachelor's degree or higher (Virginia: 42.2%), and 8.3% have a graduate or professional degree.
Jobs and commute in New Market
- Unemployment rate
- 6.5%State: 4.3%
- Average commute
- 24 minState: 27 min
- Work from home
- 7%
- Drive alone
- 70.6%
- Public transit
- 0%
- Walk to work
- 10.1%
- Homes with broadband
- 89.4%
New Market vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| New Market | 2,342 | $51,410 | $272,900 | $919 |
| Quicksburg | 106 | $89,844 | $173,600 | — |
| Timberville | 3,036 | $59,909 | $231,000 | $970 |
| Mount Jackson | 2,000 | $52,297 | $193,000 | $984 |
| Broadway | 4,273 | $64,669 | $284,300 | $1,095 |
| Stanley | 2,034 | $54,301 | $211,000 | $841 |
| Shenandoah | 2,888 | $71,458 | $212,600 | $1,093 |
| Bowmans Crossing | 420 | $62,404 | — | $1,041 |
| Luray | 4,827 | $50,150 | $253,900 | $892 |
More for people moving to New Market
New Market ZIP code ›Weather and climate ›Living in New Market: FAQ
What is the median household income in New Market, VA?
The median household income in New Market is $51,410, 45% 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 New Market?
The median home value in New Market is $272,900, compared with $383,700 in Virginia.
How much is rent in New Market?
The median gross rent in New Market is $919 per month, about 27.7% of household income.
Is New Market, VA a good place to live?
Pluses: home values 29% lower than the state median; an average commute of 24 minutes. Minuses: median household income 45% lower than the Virginia median; unemployment of 6.5%; a poverty rate of 11.1%.
What is the median age in New Market?
The median age in New Market is 49.8 years (Virginia: 39).
How long is the commute in New Market?
The average commute to work in New Market is 24 minutes; 7% of workers work from home.
What is the unemployment rate in New Market?
The unemployment rate in New Market is 6.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is New Market?
19.7% of adults in New Market 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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