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Ferrum, VA Utility & Living Guide
Living in Ferrum, VA offers a tranquil small-town experience with easy access to outdoor recreation and a strong sense of community.
Monthly Utility Costs
$130/mo
—
$40/mo
$20/mo
$60/mo
Housing Market
| Rent & Property | |
|---|---|
| 1 Bedroom | $900/mo |
| 2 Bedrooms | $1200/mo |
| 3 Bedrooms | $1800/mo |
| Median Home Price | $280,000 |
| Property Tax Rate | 0.85% |
| Avg Childcare/mo | $800 |
The housing market in Ferrum is relatively affordable, with a range of options from historic homes to new constructions. Rentals are also available, although options may be limited. The town’s small size and rural setting contribute to its charm and lower cost of living.
Cost of Living
94
-6% below national average
95
88
105
$800
Tax Rates
| Tax Overview | |
|---|---|
| Total Sales Tax | 5.3% |
| Property Tax Rate | 0.85% |
| <p>State 4.3% + County 1%</p> | |
Virginia has a progressive income tax system with rates ranging from 2% to 5.75%
Family & Relocation
70
7.2/10
$800/mo
City Pulse
Ferrum has limited public transportation options, but the town is relatively walkable and bikeable, with some sidewalks and crosswalks
- Ferrum College
- Ferrum Lake
- Blue Ridge Parkway
Best Neighborhoods for Families
Household Budget Calculator
Estimate your real monthly cost of living in Ferrum based on your household profile.
📰 Live Local News
Ferrum has zoning ordinances and building codes in place to preserve its small-town character and ensure public safety
Financial Tools
- Income Tax CalculatorEstimate take-home pay by state
- Mortgage CalculatorMonthly payment estimator
- Affordability CalculatorHow much home can you afford?
- Childcare Cost EstimatorCompare daycare costs by city
- Retirement PlannerRetirement readiness check
- Car Lease CalculatorMonthly lease payment estimator
- Savings CalculatorGrow your emergency fund
- City Comparison ToolCompare cities side by side
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📊 Ferrum — Census & Demographic Data
Official data from the US Census Bureau, American Community Survey.
☀️ Seasonal Utility Costs
Utility costs in Ferrum tend to be higher in the summer due to air conditioning usage, with average electricity bills increasing by 20-30% during the peak summer months. In contrast, winter utility bills are relatively lower, with some residents using propane or wood heat to supplement their electric heating systems.
🏛️ Local Tax Details
The ZIP code 24088 has a property tax millage rate of 0.85, with no local surtaxes
👶 Family & Stroller Friendliness
Score 6/10: Ferrum has some sidewalks and crosswalks, but the town's rural setting and limited public transportation options can make it challenging for families with strollers to get around without a car. However, the town's compact downtown area and nearby parks are relatively stroller-friendly.
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