1st Advantage MortgageIn Buchanan County, Virginia, the typical household earns $42,886 a year and the typical rent is $743. Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- Buchanan County at a glance
- How much Buchanan County households make
- Jobs and commutes in Buchanan County
- What it costs to live in Buchanan County
- Towns and communities in Buchanan County
- The counties around Buchanan County
- What a median Buchanan County budget can carry
- What the numbers mean for Buchanan County borrowers
- Buchanan County residents: age, schooling, coverage
- Licensing and complaints for Buchanan County
- Before you sign
- Nearby and statewide guides
- Frequently asked questions
Buchanan County at a glance
Roughly 19,415 residents live in Buchanan County, Virginia, 81st by population among the state's 133 counties and county equivalents. It covers 503 square miles of land, or about 39 people per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. The Census Bureau counts 3 places in the county (1 incorporated, 2 census-designated); the largest is Grundy, with about 872 residents, or 4% of the county.
How much Buchanan County households make
The median household income in Buchanan County is $42,886; statewide it is $93,170, so Buchanan County runs 54% below Virginia as a whole. In the state ranking that is 129th of 133.
| Households earning | Buchanan County | +/- vs Virginia |
|---|---|---|
| Under $35,000 | 40.5% | +22.6 pts |
| $35,000 to $99,999 | 43.3% | +8.1 pts |
| $100,000 to $199,999 | 14.3% | -14.8 pts |
| $200,000 or more | 1.8% | -15.9 pts |
Some 41% of households here live on less than $35,000 a year; 16% have six-figure incomes. 25.2% of residents fall below the federal poverty line (statewide: 9.9%). Income inequality, measured by the Gini index, comes to 0.465 here. For a borrower in Buchanan County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Jobs and commutes in Buchanan County
The biggest employer of Buchanan County residents, by industry, is education and health care at 27% of workers, followed by agriculture, forestry and mining (13%). Compared with Virginia, the county leans toward agriculture, forestry and mining (13% against 1%). ACS puts five-year average unemployment at 3.9% in Buchanan County. Long commutes are common here: 21% of workers spend 45 minutes or longer getting to work.
| Industry | Share of Buchanan County workers | vs Virginia |
|---|---|---|
| Education and health care | 26.9% | +4.6 pts |
| Agriculture, forestry and mining | 13.2% | +12.3 pts |
| Public administration | 12.2% | +3.3 pts |
| Retail trade | 8.1% | -1.7 pts |
| Arts, lodging and food service | 7.1% | -0.8 pts |
| Manufacturing | 6.6% | -0.5 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
What it costs to live in Buchanan County
Median gross rent, utilities included, comes to $743 in Buchanan County versus $1,579 statewide. 67% of renting households spend 30% or more of income on rent, and 50% spend half or more. The median owner-occupied home is valued at $94,900, about 2.2 times the median household income. Owners occupy 83% of homes.
| Buchanan County | Virginia | U.S. county median | |
|---|---|---|---|
| Median gross rent | $743/mo | $1,579/mo | $877/mo |
| Median home value | $94,900 | $383,700 | $185,300 |
| Owners | 83% | 67% | 75% |
| Rent-burdened renters | 67% | 49% | 45% |
| Burdened owners | 38% | 25% | n/a |
| Mobile homes | 35.8% | 4.3% | n/a |
In an owner-heavy county like Buchanan County, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it. Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
Towns and communities in Buchanan County
3 Census places fall mainly inside Buchanan County; the 3 biggest are below. They account for 1,807 residents, leaving about 91% of the county in unincorporated, unnamed areas. This guide covers each of the 3 places and the rural areas around them.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Grundy | town | 872 | $40,804 | $950 | 3 mi |
| Vansant | CDP | 551 | $31,595 | $727 | 4 mi |
| Big Rock | CDP | 384 | $55,049 | n/a | 10 mi |
A CDP is a named community without its own municipal government.
The counties around Buchanan County
Six nearby counties, 19 to 32 miles away by the straight-line distance between their centers. Russell County leads the group on income ($50,012), McDowell County trails ($31,559), and Buchanan County out-earns 2 of the six. The list crosses into Kentucky, West Virginia, where different lending rules and regulators apply.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Buchanan County | - | $42,886 | $743/mo | 83% |
| Dickenson County, VA | 19 mi | $47,254 | $738/mo | 76% |
| McDowell County, WV | 22 mi | $31,559 | $643/mo | 77% |
| Russell County, VA | 23 mi | $50,012 | $653/mo | 76% |
| Pike County, KY | 25 mi | $44,312 | $858/mo | 75% |
| Tazewell County, VA | 28 mi | $47,313 | $795/mo | 74% |
| Mingo County, WV | 32 mi | $38,119 | $647/mo | 73% |
What a median Buchanan County budget can carry
The debt-to-income ratio is the main affordability test lenders use. Applied to Buchanan County's medians:
- $42,886 a year is $3,574 of gross monthly income
- Less median rent of $743, which is 21% of it
- Under a 36% cap, $1,287 total minus rent leaves $544
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Buchanan County's.
What the numbers mean for Buchanan County borrowers
The county's numbers point to a few situations that come up often for Buchanan County borrowers.
- Long drives. With 21% of commutes over 45 minutes, tires and repairs are fixed costs in many Buchanan County budgets.
- 36% mobile homes. Many are not titled as real estate, so home-equity options may not apply; an unsecured loan is the usual route.
- Retirees. At a median age of 47.8, many borrowers here rely on award letters as proof of income; favor no prepayment penalty.
- 25% below poverty. Emergency aid, payment plans and counseling (list) come first.
Buchanan County residents: age, schooling, coverage
College graduates make up 11% of the adult population. About 5% go without health insurance.
| Indicator | Buchanan County | All of Virginia | U.S. county median |
|---|---|---|---|
| Median age | 47.8 | 39.0 | 41.5 |
| Bachelor's or higher | 11.5% | 42.2% | 22.2% |
| No high school diploma | 21.4% | 8.4% | n/a |
| No health insurance | 4.8% | 6.9% | 7.8% |
| No vehicle | 5.5% | 6.1% | 5.4% |
| Work from home | 6.5% | 18.3% | 8.7% |
| Poverty rate | 25.2% | 9.9% | 13.2% |
| Unemployment (ACS) | 3.9% | 4.3% | 4.4% |
| Commute length | Buchanan County |
|---|---|
| Under 15 min | 22.6% |
| 15 to 29 min | 32.8% |
| 30 to 44 min | 23.1% |
| 45 to 59 min | 8.4% |
| 60+ min | 13.1% |
Licensing and complaints for Buchanan County
No county office licenses personal lenders. For Buchanan County, check the Virginia Bureau of Financial Institutions. Federal complaints: consumerfinance.gov. The Virginia guide covers state rules in more detail.
Before you sign
Before you apply, wherever you live in Buchanan County:
- Size the loan to the bill, not to the most a lender offers.
- Compare the total repaid on every offer, not just the payment.
- A Virginia license check takes minutes; do it first.
- Lock paid-off cards after consolidating so balances stay at zero.
Nearby and statewide guides
The Virginia guide covers the whole state.
Frequently asked questions
How much do households in Buchanan County earn?
The median is $42,886; 16% earn $100,000 or more and 41% under $35,000. A lender uses your own documented income, not this figure.
How much is rent in Buchanan County?
Median gross rent, utilities included, is $743 a month; 67% of renters spend 30% or more of income on it.
Which towns does the Buchanan County guide cover?
Every community in the county, unincorporated areas included. The largest of its 3 Census places: Grundy, Vansant, Big Rock.
Can Buchanan County residents use the questionnaire?
Yes. It asks the same questions in every Virginia county, lists every requirement up front and does not affect your credit score.
Is there a Buchanan County office that licenses lenders?
No, licensing is statewide. In Virginia it is the Virginia Bureau of Financial Institutions.