Cost of Living in Ferrum, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
69.7
100 = national avg
-30.3 vs national average
Living Wage (1 Adult)
$30,675
per year
Living Wage (Family of 4)
$72,504
per year
Cost Index by Category
Housing80.0
Food74.3
Transportation48.5
Healthcare79.4
Utilities80.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$861
per month
2 Bedroom
$944
per month
The overall cost of living index in Ferrum is 69.7, which is 30.3% below the national average. Housing costs are below the national average at an index of 80.0. A single adult needs to earn approximately $30,675 per year to cover basic expenses.