1st Advantage MortgageIn Grayson County, Virginia, the typical household earns $47,730 a year and the typical rent is $765. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Virginia license first.
On this page
- A quick profile of Grayson County
- Renting and owning in Grayson County
- Paychecks and income spread in Grayson County
- The Grayson County job picture
- The communities that make up Grayson County
- The counties around Grayson County
- Grayson County residents: age, schooling, coverage
- What the numbers mean for Grayson County borrowers
- What a median Grayson County budget can carry
- Licensing and complaints for Grayson County
- A Grayson County borrower's checklist
- Nearby and statewide guides
- Frequently asked questions
A quick profile of Grayson County
The latest five-year Census estimate puts Grayson County's population at 15,287; only 96 of Virginia's 133 county-level areas are larger. It covers 442 square miles of land, or about 35 people per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Independence is the biggest of its 6 Census places, at roughly 1,132 people (7% of the county total).
Renting and owning in Grayson County
Renters in Grayson County pay a median of $765 a month, 52% below the Virginia figure of $1,579. By the Census definition, 52% of Grayson County renters are cost-burdened. The median owner-occupied home is valued at $150,100, about 3.1 times the median household income. Owners occupy 80% of homes.
| Cost | Grayson County | Virginia figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $765/mo | $1,579/mo | $877/mo |
| Median home value | $150,100 | $383,700 | $185,300 |
| Owners | 80% | 67% | 75% |
| Rent-burdened renters | 52% | 49% | 45% |
| Burdened owners | 26% | 25% | n/a |
| Mobile homes | 17.6% | 4.3% | n/a |
| Vacant units | 29% | 9% | n/a |
Because most Grayson County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral. Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
Paychecks and income spread in Grayson County
The median household income in Grayson County is $47,730; statewide it is $93,170, so Grayson County runs 49% below Virginia as a whole. That places it 123rd among Virginia's 133 county-level areas.
| Households earning | Grayson County | +/- vs Virginia |
|---|---|---|
| Under $35,000 | 36.8% | +19.0 pts |
| $35,000 to $99,999 | 43.7% | +8.5 pts |
| $100,000 to $199,999 | 16.4% | -12.8 pts |
| $200,000 or more | 3.0% | -14.7 pts |
Some 37% of households here live on less than $35,000 a year; 19% have six-figure incomes. 16.5% of residents fall below the federal poverty line (statewide: 9.9%). Income inequality, measured by the Gini index, comes to 0.501 here. None of these numbers decides a Grayson County application. Lenders weigh your own documented income against your own debts.
The Grayson County job picture
The biggest employer of Grayson County residents, by industry, is education and health care at 27% of workers, followed by manufacturing (17%). Manufacturing stands out: 17% of workers here, versus 7% statewide. Averaged over the five survey years, 3.6% of the labor force was out of work and looking. 20% of commuters travel 45 minutes or more each way, and 5% work from home. Households without a car make up 5.4% of the total (6.1% statewide).
| Industry | Share of Grayson County workers | vs Virginia |
|---|---|---|
| Education and health care | 26.7% | +4.4 pts |
| Manufacturing | 17.5% | +10.4 pts |
| Public administration | 9.3% | +0.4 pts |
| Retail trade | 8.3% | -1.5 pts |
| Construction | 7.3% | +0.8 pts |
| Arts, lodging and food service | 7.1% | -0.9 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Grayson County should have bank statements and tax returns ready.
The communities that make up Grayson County
The table lists the 6 largest of 6 Census places in Grayson County, by population. Together all 6 hold about 2,771 people, so roughly 82% of residents live outside any named place. None of the 6 has its own city guide, so this page covers all of them.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Independence | town | 1,132 | $39,286 | $668 | 4 mi |
| Baywood | CDP | 681 | n/a | $771 | 12 mi |
| Fries | town | 330 | $33,056 | $333 | 14 mi |
| Hilltown | CDP | 302 | n/a | n/a | 14 mi |
| Troutdale | town | 178 | $35,000 | n/a | 13 mi |
| Stevens Creek | CDP | 148 | n/a | n/a | 13 mi |
A CDP is a named community without its own municipal government.
The counties around Grayson County
The six counties whose centers lie closest to Grayson County's, from 12 to 28 miles away. 4 of the six report a higher median household income than Grayson County; Wythe County is highest at $57,745 and Galax city lowest at $38,675. The list crosses into North Carolina, where different lending rules and regulators apply.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Grayson County | - | $47,730 | $765/mo | 80% |
| Alleghany County, NC | 12 mi | $47,172 | $675/mo | 74% |
| Galax city, VA | 17 mi | $38,675 | $743/mo | 56% |
| Wythe County, VA | 19 mi | $57,745 | $764/mo | 77% |
| Ashe County, NC | 21 mi | $56,866 | $859/mo | 79% |
| Smyth County, VA | 22 mi | $49,883 | $731/mo | 71% |
| Carroll County, VA | 28 mi | $54,484 | $738/mo | 77% |
Grayson County residents: age, schooling, coverage
15% of Grayson County adults 25 and older hold a bachelor's degree or more. The uninsured rate is 7.6%, against 6.9% for Virginia.
| People and households | Grayson County | Virginia | Median county |
|---|---|---|---|
| Median age | 48.4 | 39.0 | 41.5 |
| Bachelor's or higher | 15.5% | 42.2% | 22.2% |
| No high school diploma | 14.4% | 8.4% | n/a |
| No health insurance | 7.6% | 6.9% | 7.8% |
| No vehicle | 5.4% | 6.1% | 5.4% |
| Work from home | 5.2% | 18.3% | 8.7% |
| Poverty rate | 16.5% | 9.9% | 13.2% |
| Unemployment (ACS) | 3.6% | 4.3% | 4.4% |
| Minutes to work | Grayson County workers |
|---|---|
| Under 15 min | 25.7% |
| 15 to 29 min | 31.3% |
| 30 to 44 min | 23.5% |
| 45 to 59 min | 9.5% |
| 60+ min | 10.0% |
What the numbers mean for Grayson County borrowers
The county's numbers point to a few situations that come up often for Grayson County borrowers.
- Vehicle repairs. 20% of Grayson County workers commute 45+ minutes, so a breakdown can cost a paycheck. Get two written estimates.
- Mobile home upkeep. 18% of units fall in this category; roof, skirting and HVAC jobs are common reasons to borrow.
- Fixed incomes. Grayson County's median age is 48.4. Social Security and pensions count as income when documented.
- Tight rental budgets. With 52% of Grayson County renters cost-burdened, test a new payment against a lean month.
What a median Grayson County budget can carry
The debt-to-income ratio is the main affordability test lenders use. Applied to Grayson County's medians:
- $47,730 a year is $3,978 of gross monthly income
- Housing at the median rent of $765 uses 19%
- 36% debt-to-income limit: $667 left for all other debt payments
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Licensing and complaints for Grayson County
Grayson County borrowers fall under statewide rules, enforced by the Virginia Bureau of Financial Institutions. Federal complaints: consumerfinance.gov. See the Virginia state guide for the statewide picture.
A Grayson County borrower's checklist
Steps that save money for Grayson County residents:
- Get a written quote for whatever you are paying for in Grayson County.
- Shop at least three lenders, including one Grayson County-area credit union.
- Check the license, then the reviews, then the offer.
- Confirm the first due date before setting up autopay.
Nearby and statewide guides
For statewide rules and data, see the Virginia guide.
Frequently asked questions
How much do households in Grayson County earn?
The median is $47,730; 19% earn $100,000 or more and 37% under $35,000. A lender uses your own documented income, not this figure.
How does Grayson County rent compare with Virginia?
$765 locally versus $1,579 for the state, 52% below.
I own my home in Grayson County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 80% of homes owner-occupied here, many readers can compare both in writing.
I live in a small Grayson County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Independence, Baywood, Fries, Hilltown, Troutdale and 1 more.
Will a Grayson County address affect my match?
Beyond confirming Virginia as your state, no. Your answers about amount, credit, income and payments are all that count.