Market Overview
Home Prices in Ferrum, VA
The median home value in Ferrum, VA is $263,567 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.6% compared to a year ago and up 6.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Ferrum are priced36% below average. Ferrum is part of the Roanoke, VA metro area.
Over the past five years, Ferrum home values have risen by approximately37.9%, reflecting strong long-term appreciation in this market.
Price History
Ferrum Home Price Trend
City Comparison
Ferrum vs. National Median
At $263,567, homes in Ferrum cost 36% below the national median of $410,000. This makes Ferrum a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Ferrum?
20% Down Payment
$52,713
on $263,567
Monthly P&I
$1,375/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,746/mo
incl. taxes & insurance
Income Needed
$69,840
gross annual (30% rule)
10% Down Option
$26,357
+ PMI applies
Loan Amount (20% dn)
$210,854
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Ferrum, VA?
The median home value in Ferrum is $263,567 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.6% year-over-year.
How much have home prices changed in Ferrum?
Over the past year, home values in Ferrum have increased by 4.6%. Over five years, prices have risen approximately 37.9%.
How much do I need to earn to buy a home in Ferrum?
To comfortably afford the median home price of $263,567 with a 20% down payment ($52,713) at today's rates (6.8%), you'd need a gross annual income of approximately $69,840. This assumes keeping total housing costs at or below 30% of gross income.
How does Ferrum compare to the national average home price?
The national median home value is approximately $410,000. At $263,567, homes in Ferrum are 36% below the national average.
What metro area is Ferrum part of?
Ferrum is part of the Roanoke, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.