24088 Ferrum, VA is a small town located in Franklin County. The 2 bedroom rent in 24088 Ferrum, VA is $810 compared to the US average of $1,430. Additionally, the grocery cost index in Ferrum is 95 versus 100 nationally. For those looking to live in a small and charming town with all the necessary amenities nearby, 24088 Ferrum, VA is an ideal location. Local companies and amenities include Walmart Supercenter for groceries and other essentials, Tractor Supply Co for farm supplies, Lick Run Country Store for hunting and fishing supplies, and various small restaurants near downtown. There are also plenty of outdoor activities such as hiking trails at Philpott Lake and camping at Fairy Stone State Park nearby.
Ferrum (zip 24088) has an unemployment rate of 4.8%. The US average is 6.0%.
Ferrum (zip 24088) has seen the job market decrease by -5.0% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Ferrum (zip 24088)
- The Sales Tax Rate for Ferrum (zip 24088) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Ferrum (zip 24088) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Ferrum (zip 24088)
- The average income of a Ferrum (zip 24088) resident is $18,180 a year. The US average is $37,638 a year.
- The Median household income of a Ferrum (zip 24088) resident is $35,206 a year. The US average is $69,021 a year.