Ferrum

Population: 1,622
Median household income: $31,750
Median home value: $202,500

Ferrum is a community in Franklin County, Virginia, home to 1,622 residents. The median household income of $31,750 is below the Franklin County median ($68,348).

From 2019 to 2023, Ferrum's population declined 29.8% from 2,310 to 1,622, while its median home value rose 55.3% from $130,400 to $202,500.

Households average 2.16 people. The median gross rent is $662.

Demographics

ACS 2019–2023

Population: 1,622
Median age: 21.5 yrs
Median household income: $31,750
Median home value: $202,500
Median gross rent: $662
Housing units: 436
Homeownership rate: 64.9%
Bachelor's degree or higher: 28.1%
Unemployment rate: 8.4%

Trends

ACS 5-year · 2019–2023

Population

2,3101,622

Median household income

$48,234$31,750

Median home value

$130,400$202,500

Median gross rent

$681$662

Year	Population	Median household income	Median home value	Median gross rent
2019	2,310	$48,234	$130,400	—
2020	2,148	$45,408	$90,500	—
2021	1,832	$35,726	$103,700	$681
2022	1,717	$33,967	$131,700	$646
2023	1,622	$31,750	$202,500	$662

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 53.9%

5 to 176.9%

18 to 2457.5%

25 to 346.6%

35 to 443.6%

45 to 543.7%

55 to 6410.9%

65 to 745.2%

75 and over1.5%

	Count	Share
Under 5	64	3.9%
5 to 17	112	6.9%
18 to 24	933	57.5%
25 to 34	107	6.6%
35 to 44	59	3.6%
45 to 54	60	3.7%
55 to 64	177	10.9%
65 to 74	85	5.2%
75 and over	25	1.5%

Race & ethnicity

	Count	Share
White (non-Hispanic)	1,074	66.2%
Black or African American	412	25.4%
American Indian & Alaska Native	0	0.0%
Asian	0	0.0%
Native Hawaiian & Pacific Islander	2	0.1%
Some other race	0	0.0%
Two or more races	88	5.4%
Hispanic or Latino (any race)	46	2.8%

Educational attainment (age 25+)

No high school diploma22.6%

High school graduate21.2%

Some college or associate's28.1%

Bachelor's degree17.7%

Graduate or professional degree10.3%

	Count	Share
No high school diploma	116	22.6%
High school graduate	109	21.2%
Some college or associate's	144	28.1%
Bachelor's degree	91	17.7%
Graduate or professional degree	53	10.3%

Commute to work

Mean travel time to work: 25 min

Drove alone47.8%

Carpooled8.8%

Public transit2.0%

Walked21.4%

Bicycle0.3%

Worked from home19.8%

Other means0.0%

How workers get to work

	Count	Share
Drove alone	353	47.8%
Carpooled	65	8.8%
Public transit	15	2.0%
Walked	158	21.4%
Bicycle	2	0.3%
Worked from home	146	19.8%
Other means	0	0.0%

Travel time

	Count	Share
Under 15 min	282	47.6%
15 to 29 min	177	29.8%
30 to 44 min	61	10.3%
45 to 59 min	34	5.7%
60+ min	39	6.6%

Households

Average household size: 2.16
Poverty rate: 35.1% (257 of 733)

	Count	Share
Family households	200	59.0%
Nonfamily households	139	41.0%

Housing

Median year structure built: 1984

Occupancy

	Count	Share
Occupied	339	77.8%
Vacant	97	22.2%

Tenure (of occupied units)

	Count	Share
Owner-occupied	220	64.9%
Renter-occupied	119	35.1%

1-unit, detached66.3%

1-unit, attached0.0%

2 to 4 units7.3%

5 to 19 units10.1%

20 or more units0.0%

Mobile home & other16.3%

Units in structure

	Count	Share
1-unit, detached	289	66.3%
1-unit, attached	0	0.0%
2 to 4 units	32	7.3%
5 to 19 units	44	10.1%
20 or more units	0	0.0%
Mobile home & other	71	16.3%

Geography

Place GEOID: 5127712
Type (LSAD): 57
Land area: 9.15 sq mi
Water area: 0.01 sq mi
Center point: 36.9385, -79.9950