1st Advantage MortgageIn Craig County, Virginia, the typical household earns $69,057 a year and the typical rent is $713. Whatever your own numbers, compare written offers on APR, fees and total cost, and verify the lender is licensed in Virginia before sharing details.
On this page
- Craig County, VA: the basics
- Income in Craig County compared with Virginia
- Renting and owning in Craig County
- Employment and commuting in Craig County
- Counties near Craig County
- Towns and communities in Craig County
- Room for a loan payment in Craig County
- People and households in Craig County
- Before borrowing in Craig County
- Lender oversight for Craig County
- Four steps for Craig County borrowers
- Nearby and statewide guides
- Frequently asked questions
Craig County, VA: the basics
Roughly 4,856 residents live in Craig County, Virginia, 130th by population among the state's 133 counties and county equivalents. Spread over 328 square miles, that works out to roughly 14.8 residents per square mile. It is one of the counties that make up the Roanoke, VA metropolitan statistical area (OMB, 2023). New Castle, with about 138 people, is the only Census place mainly inside the county. With so few households sampled, Craig County estimates can move a lot between releases.
Income in Craig County compared with Virginia
At $69,057, the typical Craig County household income is 5% above the median U.S. county ($65,681).
| Band | Craig County | Compared with Virginia |
|---|---|---|
| Under $35,000 | 24.0% | +6.1 pts |
| $35,000 to $99,999 | 37.6% | +2.4 pts |
| $100,000 to $199,999 | 31.4% | +2.2 pts |
| $200,000 or more | 7.0% | -10.7 pts |
The spread is wide: 38% of Craig County households make $100,000 or more, and 24% make less than $35,000. Census counts 13.7% of Craig County residents in poverty, against 9.9% across Virginia. A household earning below the $69,057 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.
Renting and owning in Craig County
Median gross rent, utilities included, comes to $713 in Craig County versus $1,579 statewide. By the Census definition, 39% of Craig County renters are cost-burdened. The median owner-occupied home is valued at $189,000, about 2.7 times the median household income. 84% of Craig County households own their home and 16% rent. Median construction year: 1981.
| Cost | Craig County | Virginia figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $713/mo | $1,579/mo | $877/mo |
| Median home value | $189,000 | $383,700 | $185,300 |
| Owners | 84% | 67% | 75% |
| Rent-burdened renters | 39% | 49% | 45% |
| Burdened owners | 27% | 25% | n/a |
| Vacant units | 28% | 9% | n/a |
In an owner-heavy county like Craig 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.
Employment and commuting in Craig County
By the Census industry count, 23% of employed Craig County residents work in education and health care and 21% in manufacturing. Manufacturing stands out: 21% of workers here, versus 7% statewide. Averaged over the five survey years, 2.2% of the labor force was out of work and looking. Long commutes are common here: 41% of workers spend 45 minutes or longer getting to work. 4.7% of households have no vehicle.
| Industry | Share of Craig County workers | vs Virginia |
|---|---|---|
| Education and health care | 22.5% | +0.2 pts |
| Manufacturing | 20.9% | +13.9 pts |
| Professional and administrative services | 13.2% | -3.6 pts |
| Arts, lodging and food service | 6.9% | -1.1 pts |
| Retail trade | 5.8% | -3.9 pts |
| Finance, insurance and real estate | 4.8% | -1.7 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Counties near Craig County
Distances run center to center, from Roanoke County at 10 miles out to Botetourt County at 25. Roanoke County leads the group on income ($83,709), Roanoke city trails ($55,378), and Craig County out-earns 3 of the six. The list crosses into West Virginia, where different lending rules and regulators apply.
| County | Distance | Median income | Median rent | Owners |
|---|---|---|---|---|
| Craig County | - | $69,057 | $713/mo | 84% |
| Roanoke County, VA | 10 mi | $83,709 | $1,224/mo | 76% |
| Salem city, VA | 16 mi | $66,725 | $1,133/mo | 63% |
| Monroe County, WV | 18 mi | $56,750 | $690/mo | 87% |
| Roanoke city, VA | 20 mi | $55,378 | $996/mo | 52% |
| Montgomery County, VA | 22 mi | $72,715 | $1,240/mo | 55% |
| Botetourt County, VA | 25 mi | $81,213 | $1,035/mo | 86% |
Towns and communities in Craig County
New Castle is the only Census place mainly inside Craig County, with about 138 of the county's 4,856 residents. None of the 1 has its own city guide, so this page covers all of them.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| New Castle | town | 138 | $77,083 | $833 | 7 mi |
Room for a loan payment in Craig County
Craig County at the medians, through a lender's eyes (what DTI means):
- $5,755 a month: gross income for a household at the Craig County median
- Housing at the median rent of $713 uses 12%
- With a 36% ceiling, about $1,359 remains for car, card, student and any new loan payments
- $1,762: what a 43% ratio leaves once rent is paid
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
People and households in Craig County
19% of Craig County adults 25 and older hold a bachelor's degree or more. About 3% go without health insurance.
| Craig County | Virginia | U.S. county median | |
|---|---|---|---|
| Median age | 46.3 | 39.0 | 41.5 |
| Bachelor's or higher | 19.2% | 42.2% | 22.2% |
| No high school diploma | 12.8% | 8.4% | n/a |
| No health insurance | 3.1% | 6.9% | 7.8% |
| No vehicle | 4.7% | 6.1% | 5.4% |
| Work from home | 16.9% | 18.3% | 8.7% |
| Poverty rate | 13.7% | 9.9% | 13.2% |
| Unemployment (ACS) | 2.2% | 4.3% | 4.4% |
| Commute length | Craig County |
|---|---|
| Under 15 min | 11.3% |
| 15 to 29 min | 24.5% |
| 30 to 44 min | 22.8% |
| 45 to 59 min | 31.8% |
| 60+ min | 9.6% |
Before borrowing in Craig County
The county's numbers point to a few situations that come up often for Craig County borrowers.
- Long drives. With 41% of commutes over 45 minutes, tires and repairs are fixed costs in many Craig County budgets.
- Manufactured homes. 13% of Craig County housing units are mobile homes, and their repairs are often paid with unsecured loans. Get the quote in writing.
- Benefit income. With half of residents older than 46, lenders often see pension and Social Security income, which counts like wages.
Lender oversight for Craig County
Before sharing details with a lender, a Craig County resident can confirm its license with the Virginia Bureau of Financial Institutions. The Consumer Financial Protection Bureau accepts complaints nationwide. See the Virginia state guide for the statewide picture.
Four steps for Craig County borrowers
Steps that save money for Craig County residents:
- Know the exact dollar figure you need before talking to a lender.
- Compare the total repaid on every offer, not just the payment.
- A Virginia license check takes minutes; do it first.
- Keep a small cushion so one surprise bill does not mean another loan.
Nearby and statewide guides
For statewide rules and data, see the Virginia guide.
Frequently asked questions
Is Craig County a high-income county?
Its $69,057 median ranks 65th of 133 Virginia counties and compares with $65,681 for the median U.S. county.
How much is rent in Craig County?
Median gross rent, utilities included, is $713 a month; 39% of renters spend 30% or more of income on it.
Should Craig County homeowners use home equity instead?
Maybe, but weigh the risk: 84% of Craig County homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
I live in a small Craig County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers New Castle.
Is the fit check different in Craig County?
No. It is identical everywhere, and it never looks at your neighborhood.