Ferrum is located close to the center of Virginia. Ferrum is part of Franklin County. Ferrum has 9.15 square miles of land area and 0.01 square miles of water area. As of 2010-2014, the total Ferrum population is 1,888, which has grown 43.79% since 2000. The population growth rate is much higher than the state average rate of 15.63% and is much higher than the national average rate of 11.61%. Ferrum median household income is $34,096 in 2010-2014 and has has shrunk by 3.16% since 2000. The income growth rate is much lower than the state average rate of 38.81% and is much lower than the national average rate of 27.36%. Ferrum median house value is $142,300 in 2010-2014 and has shrunk by -64.70% since 2000. The house value growth rate is lower than the state average rate of 94.18% and is higher than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Ferrum is much better than the state average in quality. The Ferrum area code is 540.