Ferrum is a very small town located in the state of Virginia. With a population of 1,827 people and two associated neighborhoods, Ferrum is the 227th largest community in Virginia. Much of the housing stock in Ferrum was built relatively recently. The construction of new real estate can often be taken as an indication that the local Ferrum economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Ferrum, where the median household income is $31,750.00.Unlike some towns, Ferrum isn’t mainly white- or blue-collar. Instead, the most prevalent occupations for people in Ferrum are a mix of both white- and blue-collar jobs. Overall, Ferrum is a town of professionals, sales and office workers, and service providers. There are especially a lot of people living in Ferrum who work in teaching (16.40%), sales jobs (14.65%), and office and administrative support (9.54%). Also of interest is that Ferrum has more people living here who work in computers and math than 95% of the places in the US. Telecommuters are a relatively large percentage of the workforce: 19.76% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes. Ferrum is a place where college students are a big part of the character and culture of the town. Small towns have often struggled with declining populations over the past few decades, but the presence of such a large college student population has helped Ferrum to fight this trend. Not only does the college population add spending and jobs to local economy, but it also contributes a very tangible, youthful energy to the town. The overall education level of Ferrum is somewhat higher than in the average US city of 21.84%: 28.07% of adults 25 and older in the town have at least a bachelor's degree. The per capita income in Ferrum in 2022 was $13,992, which is low income relative to Virginia and the nation. This equates to an annual income of $55,968 for a family of four. However, Ferrum contains both very wealthy and poor people as well. Ferrum also has one of the higher rates of people living in poverty in the nation, with 35.06% of its population below the federal poverty line.Ferrum is an extremely ethnically-diverse town. The people who call Ferrum home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Ferrum residents report their race to be White, followed by Black or African-American. Important ancestries of people in Ferrum include English, Irish, Scottish, German, and Polish. The most common language spoken in Ferrum is English. Other important languages spoken here include Spanish and Polish.
