Iron Gate, VA
Full City Profile · Virginia · Covington city County
3.3
/5.0
B
Good
408
Population
1,236/sq mi density
$60,000
Median Income
$26,773 per capita
$84,200
Home Value
$138,927 Zillow
53°F
Avg Temperature
B
Overall
3.3 / 5.0
Good overall score based on economy, affordability, safety and education
C+
Economy
2.9 / 5.0
$60,000 median income, 18.8% unemployment
A+
Affordability
5.0 / 5.0
$84,200 home value, /mo rent
D
Education
1.9 / 5.0
11.4% bachelor's degree or higher
Housing Overview
Median Home Value
$84,200
70% below
US avg: $281,900
Homeownership Rate
91.9%
41% above US avg (65.4%)
Total Housing Units
233
Median year built: 1960
Home Value by Source
Census Median
$84,200
Zillow (ZHVI)
$138,927
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
91.9%
Owner-Occupied
8.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,137/mo
1 Bedroom
$1,181/mo
2 Bedroom
$1,369/mo
3 Bedroom
$1,787/mo
4 Bedroom
$2,126/mo
Affordability & Housing Stock
Rent Burden
27.5%
of renters spending 30%+ of income on housing
11% below US avg (31.0%)
Median Year Built
1960
Average age of housing stock: 66 years
Homeownership Rate
91.9%
Complete Housing Data
Home Values
| Census Median Value | $84,200 |
| Zillow Home Value (ZHVI) | $138,927 |
Rent
| FMR Studio | $1,137 |
| FMR 1-Bedroom | $1,181 |
| FMR 2-Bedroom | $1,369 |
| FMR 3-Bedroom | $1,787 |
| FMR 4-Bedroom | $2,126 |
Market
Ownership & Stock
| Owner-Occupied | 91.9% |
| Renter-Occupied | 8.1% |
| Homeownership Rate | 91.9% |
| Total Housing Units | 233 |
| Median Year Built | 1960 |
| Rent Burden | 27.5% |