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Big Stone Gap

Learn about the people, housing, costs and businesses in Big Stone Gap, Virginia

Median Home$162,023
Median Rent$798/month
Population5,092
Leading IndustriesPublic Administration · Manufacturing28% public administration
Home Value Growth⬆⬆+15.1% over 2 years
Young Adults28% of residentsnear the national average
Homeowners67% of occupied units
NotableAmenity Score68/100 · highly walkable area
NotableAffordable Market$162k median home · lower cost than 69% of the country
Big Stone Gap
VA

Frequently Asked Questions

What are today's mortgage rates in Big Stone Gap?

As of today, the 30-year fixed mortgage rate for Big Stone Gap is approximately 6.972% (7.014% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Big Stone Gap?

The median home value in Big Stone Gap is $162k. The median monthly rent is $798. Annual property taxes average $794. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Big Stone Gap?

Home values in Big Stone Gap have increased 15.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Big Stone Gap?

Based on a typical all-in ownership cost of $819/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $35k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Big Stone Gap is $55k/year.

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What industries drive the economy in Big Stone Gap?

The largest employment sectors in Big Stone Gap are public administration (28%) and retail (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.