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Bassett, VA Profile: Facts & Data

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Bassett, Virginia - Basic Facts

The Bassett Census Designated Place had a population of 1,116 as of July 1, 2020.

The primary coordinate point for Bassett is located at latitude 36.7593 and longitude -79.9903 in Henry County. The formal boundaries for the Bassett Census Designated Place encompass a land area of 3.48 sq. miles and a water area of 0 sq. miles. Henry County is in the Eastern time zone (GMT -5). The elevation is 768 feet.

The Bassett Census Designated Place (GNIS ID: 2389176) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

Alternate Unofficial Names for Bassett: Bassetts.

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Bassett, VA Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 1,116 (100%)
Population in Households 1,086 (97.3%)
Population in Families 856 (76.7%)
Population in Group Quarters1 30 ( 2.7%)
Population Density 323
Diversity Index2 49
 
 

INCOME

Median Household Income $37,587
Average Household Income $53,920
% of Income for Mortgage4 11%
Per Capita Income $23,260
Wealth Index5 47
 

HOUSING

Total HU (Housing Units) 631 (100%)
Owner Occupied HU 328 (52.0%)
Renter Occupied HU 173 (27.4%)
Vacant Housing Units 131 (20.8%)
Median Home Value $101,984
Average Home Value $158,207
Housing Affordability Index3 237
 

HOUSEHOLDS

Total Households 500
Average Household Size 2.17
Family Households 312
Average Family Size 3
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.

GROWTH RATE / YEAR

 2010-2020 2020-2025
Population 0.14% -0.25%
Households 0.2% -0.24%
Families 1.1% -0.39%
Median Household Income   1.7%
Per Capita Income   1.97%
Owner Occupied HU   -0.49%

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Bassett, VA - Peer Comparisons by Rank and Percentile

The table below compares Bassett to the other 593 incorporated cities, towns and CDPs in Virginia by rank and percentile using July 1, 2020 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 # 350 41st
Population Density # 425 28th
Median Household Income # 517 13th
Housing Affordability Index # 513 87th
Per Capita Income # 433 27th
Diversity Index # 283 52nd

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

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