Ferrum, VA · standard
ZIP Code 24088
Franklin County, Virginia - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 5,408
- 18/sq mi Moderate-density area
- $41,769
- Median income Below-median income area
- $152,700
- Median home value Below-median home value
- 20.5%
- Bachelor's or higher Near-average bachelor's attainment
National ZIP placement
Ferrum pairs one of the lowest household incomes in the country with below-median home values, in a rural, homeowner-dominated area.
- 7th pct
- household income, US ZIPs
- 26th pct
- home value, US ZIPs
- 18
- people per sq mi
- 78%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 24088 against every reporting US ZIP.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 24088 (Ferrum, VA) rose +9.2% from 2023 to 2024.
ZIP code 24088 is a mid-sized community (a standard USPS delivery area) in Ferrum, Franklin County, Virginia, home to 5,408 residents across 303.8 square miles, a density of 18 people per square mile, in the New York time zone.
ZIP 24088 reports a modest median household income of $41,769 (51% below the average Virginia ZIP), while per-capita income is $24,489. The poverty rate is 22.1%, so the area-level income figures should not be treated as typical household experience. Home values sit below the statewide ZIP benchmark: the median is $152,700 (54% below the average Virginia ZIP), and median rent is $643; owner occupancy is 77.9%.
Educational attainment sits below the national norm: 20.5% of adults hold a bachelor's degree or higher, the median age is 36.5, and the average commute is 34 minutes. The page also surfaces 3 ZIP codes within roughly 10 miles and 6 more in Franklin County, so 24088 can be compared with both its immediate and county-level context.
Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →
Top industries in ZIP 24088
Top 5 sectors by establishment count in Ferrum, VA
Which industries have the most business establishments in ZIP 24088.
- Construction
Construction
14 establishments
- Other services (except public administration)
Other services (except public administration)
7 establishments
- Manufacturing
Manufacturing
6 establishments
- Retail trade 5
Retail trade
5 establishments
- Accommodation and food services 4
Accommodation and food services
4 establishments
What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 24088, Ferrum, VA · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; FHFA HPI updated quarterly/annually.
Quick Facts
5,408
Population
303.8
Area (sq mi)
18
People / sq mi
New York
Time Zone
standard
ZIP Type
Who lives in ZIP 24088?
36.5
Median Age
50.2%
Male
49.8%
Female
0.4%
Foreign-Born
Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How much do residents earn?
$41,769
Median Household Income
-51% vs state ZIP avg
$24,489
Per Capita Income
22.1%
Poverty Rate
3.1%
Unemployment Rate
34.0 min
Mean Commute Time
How ZIP 24088 ranks among Virginia ZIPs
Ferrum, VA household income vs. every Virginia ZIP code
Median household income among 804 reporting Virginia ZIPs (this ZIP's population is too small for a reliable national-corpus placement)
$41,769 5th percentile higher than 5% of 804 Virginia ZIPs
Each bar is a $20K-wide band; taller bars hold more Virginia ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What is the education profile here?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
Housing stock: occupied vs vacant
2,027housing units
2,027
Total Housing Units
1,813
Occupied Units
214
Vacant Units
2.32
Avg Household Size
Occupancy Type
$152,700
Median Home Value
-54% vs state ZIP avg
$643
Median Rent
1987
Median Year Built
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What businesses operate in this ZIP?
Census Bureau data shows 50 business establishments in ZIP 24088, employing approximately 854 people with a combined annual payroll of $25,208,000.
50
Businesses
854
Employees
$25.2M
Annual Payroll
6
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Construction | 14 | 28.0% |
| Other services (except public administration) | 7 | 14.0% |
| Manufacturing | 6 | 12.0% |
| Retail trade | 5 | 10.0% |
| Accommodation and food services | 4 | 8.0% |
| Professional, scientific, and technical services | 3 | 6.0% |
Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.
Nearby ZIP Codes
Want a side-by-side? Compare 24088 vs 24102 →
ZIP 24088 vs its nearest neighbors, by population
Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 24055
Bassett (24055)
13,674 residents
- 24088 5,408
Ferrum (24088)
5,408 residents
- 24067 2,230
Callaway (24067)
2,230 residents
- 24102 1,697
Henry (24102)
1,697 residents
What this shows Among its immediate neighbors, ZIP 24088 ranks #2 by population - useful context the national average alone can't give.
ZIP 24088 vs its nearest neighbors, by median income
Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 24102
Henry (24102)
$76,250 median income
- 24067
Callaway (24067)
$49,353 median income
- 24055
Bassett (24055)
$45,227 median income
- 24088
Ferrum (24088)
$41,769 median income
What this shows By household income, ZIP 24088 ranks #4 of 4 neighboring ZIPs, local affluence varies block to block, not just metro to metro.
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 24088, both outside VA so the neighborhoods are not geographic containment (Nearby and same-county blocks stay local).
Similar population
Nearest cross-state ZIPs by resident population (5,408 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in Franklin County
Related Areas
Frequently Asked Questions
What county is ZIP code 24088 in?
ZIP code 24088 (Ferrum) is located in Franklin County, Virginia. Franklin County contains multiple ZIP codes, see the full list at /counties/franklin-va.
What is the population of ZIP code 24088?
ZIP code 24088 in Ferrum, VA has a population of 5,408 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 24088?
The median household income in ZIP 24088 is $41,769, which is 45% below the national average of $76,288.
What is the average home value in ZIP 24088?
The median home value in ZIP 24088 is $152,700, which is 45% below the national average of $278,155.
What is the demographic makeup of ZIP 24088?
The largest racial group in ZIP 24088 is White at 89.5%. Hispanic or Latino residents make up 1.0% of the population.
How many businesses are in ZIP code 24088?
ZIP code 24088 has 50 business establishments employing approximately 854 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 24088?
The top industries by establishment count in ZIP 24088 are: Construction (14), Other services (except public administration) (7), Manufacturing (6). There are 6 industry sectors represented in total.
What is the education level in ZIP code 24088?
In ZIP code 24088, 57.8% of residents aged 25+ have a high school diploma or higher, and 20.5% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 24088?
The mean commute time for workers in ZIP code 24088 is 34.0 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend more time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 24088?
In ZIP code 24088, approximately 77.9% of occupied housing units are owner-occupied and 22.1% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 24088?
The poverty rate in ZIP code 24088 is 22.1% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.
Related
Take this with you
What to do with ZIP 24088's numbers, next.
- See how ZIP 24088 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
- Check where Ferrum, VA ranks among every U.S. ZIP code on income, education, or homeownership View national rankings
- Save this ZIP to your shortlist to track alongside others you're considering View your shortlist
ZIP Code Tabulation Areas (ZCTAs) are Census Bureau approximations of USPS ZIP codes; figures describe the ZCTA area, not any single address within it.