Ferrum is a small town of 1,717 in Virginia, with a median household income of $33,967
and a 6.5% unemployment rate.
Its cost of living index is 91 (US average = 100), which is
9% below the national average.
Strengths:
Ferrum stands out for an affordable cost of living, below-average home prices, solid school ratings (B+), short average commutes.
Trade-offs:
Potential downsides include an elevated unemployment rate. Whether Ferrum is right for you depends on your priorities — the full breakdown is below.
All Ferrum city data on this page comes from official government sources —
the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.
Cost of Living
Index: 90.9
Ferrum's overall cost of living index is 90.9,
where 100 represents the US national average.
Living in Ferrum costs roughly 9% less than the average American city.
Metric
Ferrum, VA
National Avg
Median Home Value
$131,700
$244,900
Median Monthly Rent
$646
$1,163
Homeownership Rate
63.1%
65.9%
Median Household Income
$33,967
$74,755
Crime & Safety
Very Safe
Ferrum's violent crime rate is 123.1 per 100,000 residents
— 68% lower than the national average of ~380 per 100,000.
Violent Crime
123.1 /100k
Property Crime
1027.8 /100k
Vertical marker = national average. Source: FBI UCR Program.
Schools & Education
Ferrum is served primarily by Franklin County Public Schools.
The student-to-teacher ratio is 10.8:1
(better than the national average of ~16:1).
Metric
Ferrum, VA
National Avg
School District
Franklin County Public Schools
—
Elementary Schools
10
—
Middle Schools
1
—
High Schools
1
—
Student/Teacher Ratio
10.8:1
16:1
Bachelor's Degree or Higher
24.6%
35.4%
High School Diploma or Higher
79.2%
91.1%
Weather & Climate
Ferrum sees average highs of 47.0°F in January
and 86.6°F in July,
with 49.2 inches of annual precipitation
and 12.6 inches of snow per year.
Ferrum's cost of living index is 91, where 100 is the national average.
That makes Ferrum roughly 9% less expensive than a typical US city — a meaningful affordability advantage.
The median home price is $131,700 and median rent is $646/month.
Ferrum's violent crime rate is 123.1 per 100,000 residents — the national average is ~380 per 100,000. Property crime is 1027.8 per 100,000 (national avg ~2,100). Data from the FBI Uniform Crime Reporting Program.
Public schools in Ferrum are operated by Franklin County Public Schools.
The district has 10 elementary, 1 middle, and 1 high schools.
The student-to-teacher ratio is 10.8:1. 24.6% of adults 25+ hold a bachelor's degree or higher.
Ferrum, VA has a population of 1,717, a median household income of $33,967, and an unemployment rate of 6.5%.
It offers below-average costs of living, which stretches take-home pay further than in most American cities. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Ferrum averages 47.0°F in January and 86.6°F in July. Annual rainfall is 49.2 inches
with about 12.6 inches of snow per year.
Based on NOAA 30-year climate normals (1991–2020).
Ferrum, VA is covered by 2 ZIP codes: 24088, 24067.
The population of Ferrum, Virginia is 1,717 with a median age of 21.3. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Ferrum: cost of living index 91 (100 = US average), median home $131,700, median household income $33,967, crime index 39 (100 = US average, lower is safer), schools rated B+. Whether these are benefits or drawbacks depends on where you're coming from — compare Ferrum side by side with your current city to see the trade-offs.
