Ferrum, VA vs Tazewell, VA

Ferrum, VA and Tazewell, VA have a very similar cost of living, with only a 4.1% difference in their overall index. Ferrum scores 69 while Tazewell scores 66 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Ferrum is $662/month compared to $722/month in Tazewell — a 8% difference. Interestingly, home values tell a different story: while Ferrum has cheaper rent, Tazewell actually has lower median home values ($110,400 vs $202,500).

Median household income in Ferrum is $31,750 compared to $35,392 in Tazewell (-10.3%). Tazewell offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Ferrum spend roughly 25% of their income on rent, more than the 24.5% in Tazewell.