Cost of Living in Floyd County, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Floyd County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Floyd County ranks #991 of 3,142 counties for affordability (top 32%)
Sourced county brief
Floyd County Median Monthly Owner Costs Stand at $615
The median selected monthly owner cost for all owner-occupied units in Floyd County was $615, which is below the Virginia unweighted county mean of $1,190. The median gross rent was estimated at $878 per month, compared to the unweighted state county mean of $1,170. For homeowners, the median home value was recorded at $225,400. The official median gross rent as a percentage of household income (GRAPI) was 23.4%, a figure that is 5.2 percentage points below the Virginia unweighted county mean of 28.6%. The median income for renter households was $42,819. This analysis is based on American Community Survey 2020-2024 5-year estimates. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Floyd County
Affordability Verdict
ACS B25071 estimates median gross rent at 23.4% of renter household income in Floyd County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $878 per month; median selected monthly owner costs are $615. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $35,120 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Virginia unweighted mean of county median rents is $1,170 per month. Floyd County's $878 median is 24.9% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Floyd County
Rent Burden
16.9%
of gross income
Max Housing (28% Rule)
$1,451
per month
Owner Cost Burden
11.9%
of gross income
The median home in Floyd County may be a stretch
Median home value is $225,400. Estimated monthly cost: $1,799 vs. your max of $1,451.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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