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Ferrum, VA&

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Population
2,357
18.1% growth
Median Age
20.3
Median Household Income
$45,469
15.5% growth
Poverty Rate
14.1%
Number of Employees
1,046
3.36% growth
Median Property Value
$136,100
6.65% decline

Economy

The economy of Ferrum, VA employs 1,046 people. The economy of Ferrum, VA is specialized in Educational Services; Agriculture, Forestry, Fishing, Hunting; and Accommodation & Food Service, which employ respectively 4.74; 2.31; and 1.95 times more people than what would be expected in a location of this size. The largest industries in Ferrum, VA are Educational Services (462), Accommodation & Food Service (164), and Manufacturing (115), and the highest paying industries are Healthcare & Social Assistance ($41,023), Educational Services ($5,000), and Accommodation & Food Service ($4,803).

Median household income in Ferrum, VA is $45,469. Males in Ferrum, VA have an average income that is 1.07 times higher than the average income of females, which is $50,934. The income inequality of Ferrum, VA (measured using the Gini index) is 0.424 which is lower than the national average.

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Health & Safety

Insurance and Medicare coverage combined with state and county level health and safety statistics for Ferrum, VA. In Franklin County, VA the age groups most likely to have health care coverage are 55-64 and 55-64, men and women, respectively. The location has a 1 to 46 primary care clinician to patient ratio and a Medicare reimbursement average per patient per year of $7,718. Petersburg city, VA has the highest prevalence of homicides of any county in Virginia.

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Showing data across all counties in Virginia.

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Diversity

Ferrum, VA is home to a population of 2,357 people, from which 96.4% are citizens. The ethnic composition of the population of Ferrum, VA is composed of 1,680 White residents (71.3%), 412 Black residents (17.5%), 189 Hispanic residents (8.02%), 46 Two+ residents (1.95%), and 23 Other residents (0.98%). The most common foreign languages in Ferrum, VA are Spanish (158 speakers), French (0 speakers), and French Creole (0 speakers), but compared to other places, Ferrum, VA has a relative high number of Spanish (158 speakers), French Creole (0 speakers), and French (0 speakers).

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Education

In 2015 universities in Ferrum, VA awarded 249 degrees. The student population of Ferrum, VA is skewed towards females, with 109 male students and 140 female students. Most students in Ferrum, VA are White (156 and 62.7%), followed by Black or African American (62 and 24.9%), Unknown (16 and 6.43%), and Hispanic or Latino (7 and 2.81%). The largest universities in Ferrum, VA by number of graduates are Ferrum College (249 and 100%), N/A (N/A and N/A), and N/A (N/A and N/A). The most popular majors in Ferrum, VA are Criminal Justice - Safety Studies (29 and 11.6%), Physical Education Teaching & Coaching (21 and 8.43%), and General Health Services (20 and 8.03%). The median tuition costs in Ferrum, VA are N/A for private four year colleges, and $31,800 and $31,800 respectively, for public four year colleges for in-state students and out-of-state students.

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Housing & Living

The median property value in Ferrum, VA is $136,100, which is 0.66 times smaller than the national average of $205,000. Between 2015 and 2016 the median property value decreased from $145,800 to $136,100, a 6.65% increase. The homeownership rate of Ferrum, VA is 77.4%, which is higher than the national average of 63.6%. People in Ferrum, VA have an average commute time of 15.8 minutes, and they commute by Drove Alone. Car ownership in Ferrum, VA is approximately the same as the national average, with an average of 2 cars per household.

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