Cost of Living in Grayson County, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Grayson County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Grayson County ranks #223 of 3,144 counties for affordability (top 7%)
Data Story
About Cost of Living in Grayson County, Virginia
Grayson's affordability masks strain
Grayson County's 19.9% rent-to-income ratio edges above Virginia's state average of 18.6%, but its median household income of just $42,864 is 43% below the national median. The low rents of $712 monthly are offset by lower earnings, making affordability feel tight despite low nominal prices.
Rural affordability, limited incomes
Grayson ranks in the bottom quartile of Virginia counties for household income, though its rent-to-income ratio remains slightly above state average. At $712 monthly, Grayson has the cheapest rent in this comparison, but residents earn the least, reflecting the economic reality of rural southwest Virginia.
Cheapest rents, tightest budgets
Grayson's $712 rent is $68 below rural Giles County, but Grayson incomes run $21,955 lower, creating a more precarious affordability situation. Compared to Greensville County to the east, Grayson rents are $248 cheaper while incomes are $13,895 lower.
Low costs meet low income reality
Renters dedicate 19.9% of their $42,864 annual income to a $712 monthly apartment, while homebuyers pay $438 monthly on a median home value of $132,300. Housing consumes roughly 25% of household earnings—technically manageable, but leaving little room for emergencies or savings.
Grayson suits those rooted in place
Grayson offers rock-bottom housing costs, but consider income prospects before relocating—jobs here are limited and wages lag statewide. If you're remote-working or retiring with stable income, Grayson's affordability is unbeatable; otherwise, Giles County to the south offers similar costs with better earning opportunities.
Cost of Living Advisory: Grayson County
Affordability Verdict
Grayson County is affordable for renters, with a median gross rent of $712/month representing approximately 19.9% of median household income. The rent burden (GRAPI) stands at 31.0%.
Rent vs. Own
Renters in Grayson County pay $712/month on average, compared to $438/month for homeowners. This market favors buyers by about 38%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,480/year. For owner costs at the 28% rule, the required income is roughly $18,771/year. With a median household income of $42,864, most households can comfortably afford rent here. Notably, 31.0% of renter households in Grayson County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Virginia, Grayson County is less affordable than Halifax County by roughly 7% ($712/mo vs $769/mo).
Affordability Calculator
See how your income compares to housing costs in Grayson County
Rent Burden
19.9%
of gross income
Max Housing (28% Rule)
$1,000
per month
Owner Cost Burden
12.3%
of gross income
The median home in Grayson County may be a stretch
Median home value is $132,300. Estimated monthly cost: $1,056 vs. your max of $1,000.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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 (2019-2023) — Informational only. Not financial or legal advice.
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