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Ferrum CDP, VA

ZIP 24088 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 24088

Median Home Value
$127,100
Median Rent
$550
Affordability Snapshot
$35,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$816/mo PITI).

17%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.2x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

19.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 24088 in Ferrum CDP, VA, a household would need roughly $35,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $816. That sits below the local median household income ($39,905), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 16% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
76.0%+16% vs US avg
x
Vacancy Rate
15.5%+51% vs US avg
x
Broadband Access
80.6%-7% vs US avg
x
4+ Bedrooms
0.5%-96% vs US avg
x
Built Pre-1939
2.2%-83% vs US avg
x
Built Post-2014
1.0%-85% vs US avg
x
Rent Burden >30%
10.5%-79% vs US avg
x
Mortgage-Free
58.8%+54% vs US avg
x
$127,100
Home Value
$550
Rent
1987
Year Built
2006
Moved In

Residents have lived here since ~2006 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached58.8%
  • 1-unit attached0.0%
  • 2-9 units3.6%
  • 10+ units0.0%
  • Mobile home & other37.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$127,100
Median rent$550
Owner-occupied76.0%
Vacant15.5%
Price-to-income3.2x
Est. income to buy$35,000