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Iron Gate, VA Profile: Facts & Data

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Iron Gate, Virginia - Basic Facts

The Town of Iron Gate had a population of 315 as of July 1, 2024.

The primary coordinate point for Iron Gate is located at latitude 37.7976 and longitude -79.7912 in Alleghany County. The formal boundaries for the Town of Iron Gate encompass a land area of 0.33 sq. miles and a water area of 0.02 sq. miles. Alleghany County is in the Eastern time zone (GMT -5).

The Town of Iron Gate has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. Iron Gate 2024 Demographic Data
  2. Growth Rates for Iron Gate (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Virginia Research Tools (Easy Tools & Current Data)
  3. Virginia Data Comparison Tool - 2024 Demographics
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Iron Gate, VA Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 315 (100%)
Population in Households 315 (100.0%)
Population in Families 251 (79.7%)
Population in Group Quarters1 0
Population Density 954
Diversity Index2 28
 
 

INCOME

Median Household Income $26,547
Average Household Income $51,032
% of Income for Mortgage4 24%
Per Capita Income $24,139
Wealth Index5 37
Socioeconomic Status Index6 Moderate (54.6)
 

HOUSING

Total HU (Housing Units) 170 (100%)
Owner Occupied HU 121 (71.2%)
Renter Occupied HU 28 (16.5%)
Vacant Housing Units 21 (12.4%)
Median Home Value $102,778
Average Home Value $125,620
Housing Affordability Index3 104
 

HOUSEHOLDS

Total Households 149
Average Household Size 2.11
Family Households 92
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population -0.66% -0.58%
Households -0.47% 0.13%
Families   -0.66%
Median Household Income   5.17%
Per Capita Income   3.68%
Owner Occupied HU   0.65%

Iron Gate, VA - Peer Comparisons by Rank and Percentile

The table below compares Iron Gate to the other 688 incorporated cities, towns and CDPs in Virginia by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 526 24th
Population Density # 270 61st
Median Household Income # 668 3rd
Housing Affordability Index # 441 64th
Per Capita Income # 601 13th
Diversity Index # 510 26th

Additional comparisons and rankings can be made with a VERY EASY TO USE Virginia Census Data Comparison Tool.

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