Ferrum, VA vs Luray, VA

Ferrum is moderately more affordable than Luray, with a 14.3% lower cost of living index. Ferrum scores 69 compared to 80 for Luray, where the US average is 100. This difference means residents of Luray can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Ferrum is $662/month compared to $830/month in Luray — a 20% difference. Home values follow the same pattern: Ferrum is more affordable at $202,500 median vs $243,500.

Median household income in Ferrum is $31,750 compared to $55,802 in Luray (-43.1%). While Luray is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ferrum spend roughly 25% of their income on rent, more than the 17.8% in Luray.