Housing costs in Ferrum?
A typical home costs
$205,600, which is 39.2% less expensive than the national average of
$338,100 and 40.1% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Ferrum costs
$810 per month, which is 42.1% cheaper than the national average of
$1,400 and 21.0% cheaper than the state average of
$980.
Can I afford Ferrum?
To live comfortably in Ferrum (zip 24088), Virginia, a minimum annual income of
$39,240 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Ferrum?
The cost of living in 24088 Ferrum, VA is quite reasonable. The median home value is just under $200,000 and the median household income is slightly over $50,000. The cost of goods and services is about 5% below the national average making it a great place to live within a budget. Renters can expect to pay an average of $750 to $800 per month for a two-bedroom apartment. Utilities are also affordable with the average monthly electric bill coming in around $130 to $140 depending on usage.