| ZIP Code | 24088 |
|---|---|
| City | Ferrum |
| State | Virginia (VA) |
| County | Franklin County |
| Area Code | 540/826 |
| Elevation | 1,197 ft |
| Latitude | 36.887904 |
|---|---|
| Longitude | -80.077927 |
| Timezone | New York (DST) |
| FIPS | 51067 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 36.9 yrs |
|---|---|
| Avg Household Size | 2.30 |
| Below Poverty | 15.6% ▲ 56% above avg |
| College Grads | 25.3% ▼ 35% below avg |
| Unemployment | 3.6% ▼ 26% below avg |
| No HS Diploma | 48 (1.8%) |
| HS Graduate | 981 (37.1%) |
| Some College | 581 (22%) |
| Associates | 363 (13.7%) |
| Bachelors | 162 (6.1%) |
| Graduate Degree | 506 (19.2%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $39,905 ▼ 48% below avg ↓ 14% since 2019 |
|---|---|
| Median Home Value | $127,100 ▼ 54% below avg ↑ 8% since 2019 |
| Home/Income Ratio | 3.2x (nat avg ~3.5x) |
| Median Rent | $658/mo ↓ 6% since 2019 |
| Total Units | 2,115 |
| Vacant Units | 328 |
| Avg HH Size | 2.30 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 2,115 |
|---|---|
| Vacant | 328 |
| Owner Occupied | 76.0% |
| Renter Occupied | 24.0% |
| Avg HH Size | 2.30 |
ZIP code 24088 is located in Ferrum, Virginia, within Franklin County. With a population of 4,999, this is a lightly populated ZIP code with a relatively young community — the median age is 36.9 years. Economically, 24088 is a lower-income ZIP code: the median household income of $39,905 is below the national average.
Real estate in ZIP code 24088 represents one of the more affordable housing markets in the country. The median home value of $127,100 is well below the national average. Renters can expect to pay around $658 per month in median rent. Homeownership is strong here — 76.0% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 8% since 2019.
The population of 24088 is primarily White (85.64%). Residents are moderately educated — 25.3% hold a bachelor's degree or higher, which is below the national average. Poverty affects some residents at 15.6%. Household income has declined by 14% since 2019.
The unemployment rate in 24088 stands at 3.6%, which is below the national average. As in most parts of the country, driving alone is the dominant commute mode at 73%.
Overall, ZIP code 24088 in Ferrum, VA is characterized as lower-income, moderately educated, a relatively young community, and predominantly owner-occupied. With 4,999 residents, a median household income of $39,905, and a median home value of $127,100, it offers a clear picture of life in this part of Virginia.