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EconPulse

Local economy signal dashboard

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PLACEStable

Boones Mill, VA

Stable overall. Population is the clearest support signal, while jobs needs the most attention. Housing reads as affordable for a median-income household.

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Overall score60out of 100
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73
0
100
80
100

Population

228

Data freshness

Unknown

GDP / Output

+4.9% YoY

73

$2.2B

Output changed +4.9% in 2024.

Vintage date unknown

State growth5.4%
U.S. growth5.3%

Jobs

Unemployment rate

0

11.4%

Unemployment is 11.4% for Latest available.

Vintage date unknown

State avg4.3%
U.S. avg5.2%

Population

+53.0% 5-year

100

228

Population moved +53.0% over the latest ACS window.

Vintage date unknown

State population8,705,170
U.S. population334,922,499

Housing

Rent share of income

80

14.6%

Median rent consumes 14.6% of median household income: Affordable.

Vintage date unknown

State rent$1.6K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$8.2K per resident

100

$447.9M

$447.9M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$214.2B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$447.9M

$8.2K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$377.5M
2. Department of Veterans Affairs$37.3M
3. Railroad Retirement Board$12.2M

Top recipients

Dollars
1. VIRGINIA DEPARTMENT OF TRANSPORTATION$6.9M
2. REDACTED DUE TO PII$5.3M
3. PENBAY TECHNOLOGY GROUP LLC$3.5M

Affordable

Housing Affordability

14.6%

of median income

1BR estimate$759
2BR estimate$999
Median income$75,972
Median home value$208,300

ACS context

Quick Facts

Population

228

Median age

49.2

Bachelor's degree+

37.0%

Poverty rate

3.9%

Labor force participation

68.3%

Prime rate

7.0%

CPI YoY

+3.0%

U.S. GDP YoY

+6.6%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-09-17

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+8.9%

GDP CAGR

+6.0%

Federal flow

5 years

Population (5 years)
2020149
2021152
2022205
2023224
2024228
GDP (5 years)
2020$1.7B
2021$1.9B
2022$2.0B
2023$2.1B
2024$2.2B

2-year linear forecast

Predictive Outlook

Population forecast

2024228
2025261 *
2026284 *

R² = 89.1% · * projected

GDP forecast

2024$2.2B
2025$2.4B *
2026$2.5B *

R² = 97.5% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$75,972/yr
Median rent$925/mo
Rent share of income14.6%
Est. mortgage (30yr, 6.5%)$12,639/yr
Mortgage share of income16.6%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate11.4%
State avg4.3%
U.S. avg5.2%
Labor force participation68.3%
Poverty rate3.9%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$208,300
Median monthly rent$925
Price-to-rent ratio18.8x

Moderate price-to-rent ratio — buying and renting are roughly balanced in this market.

composite score

Investment Climate

Investment climateModerate
Composite score57/100
Economic growth73/100
Labor market0/100
Population momentum100/100
Overall stability60/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Boones Mill town, Virginia

City/Town

Part of

Roanoke, VA

Nearby locations

Cave Spring, VARocky Mount, VAHenry Fork, VARoanoke, VAVinton, VA