Oak Level, VA Profile: Facts & Data

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Oak Level, Virginia - Basic Facts

The Oak Level Census Designated Place had a population of 852 as of July 1, 2020. Oak Level ranks in the lower quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Virginia. See peer rankings below.

The primary coordinate point for Oak Level is located at latitude 36.8154 and longitude -79.9356 in Henry County. The formal boundaries for the Oak Level Census Designated Place encompass a land area of 6.07 sq. miles and a water area of 0 sq. miles. Henry County is in the Eastern time zone (GMT -5). The elevation is 1,253 feet.

The Oak Level Census Designated Place (GNIS ID: 2389601) 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 Oak Level: Oaklevel.

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

POPULATION

Total Population 852 (100%)
Population in Households 852 (100.0%)
Population in Families 693 (81.3%)
Population in Group Quarters1 0
Population Density 140
Diversity Index2 44
 
 

INCOME

Median Household Income $31,887
Average Household Income $42,242
% of Income for Mortgage4 12%
Per Capita Income $18,895
Wealth Index5 34
 

HOUSING

Total HU (Housing Units) 449 (100%)
Owner Occupied HU 288 (64.1%)
Renter Occupied HU 107 (23.8%)
Vacant Housing Units 54 (12.0%)
Median Home Value $90,000
Average Home Value $126,215
Housing Affordability Index3 231
 

HOUSEHOLDS

Total Households 395
Average Household Size 2.16
Family Households 261
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 -0.06% -0.35%
Households 0.05% -0.25%
Families 0.3% -0.39%
Median Household Income   1.12%
Per Capita Income   1.39%
Owner Occupied HU   -0.28%

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Oak Level, VA - Peer Comparisons by Rank and Percentile

The table below compares Oak Level 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 # 390 34th
Population Density # 515 13th
Median Household Income # 574 3rd
Housing Affordability Index # 501 84th
Per Capita Income # 558 6th
Diversity Index # 320 46th

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

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