Quick facts: Luray, VA

Quick Facts

106
Cost of Living
above US average
4,833
Population
22.35
Crime Rate per 1000
below US average
$50,327
Median Income
below US average
$299,900
Median House Price
above US average
$1676.38
Average Rent
above US average
12%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $50,327.

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Income Needed to Buy

βœ— Stretch
$94k/year
Based on $299,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $94k vs median $50,327
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Income Needed to Rent

⚠ Stretch
$72k/year
Based on $1676.38/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $72k vs median $50,327
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Luray, VA

Luray, Virginia, nestled in the scenic Shenandoah Valley, is a charming small town known for its stunning natural beauty and rich history. It serves as a gateway to the Great Outdoors, particularly the nearby Shenandoah National Park, which offers a plethora of hiking trails, breathtaking views, and opportunities for wildlife viewing. The town is famous for the Luray Caverns, a remarkable underground cavern system featuring impressive stalactites, stalagmites, and a rare stone organ, attracting visitors year-round. Luray's downtown area boasts a quaint atmosphere with local shops, art galleries, and eateries that reflect the town's community spirit. The historic district showcases beautiful architecture, including the Carlin Hall and various Victorian homes. With annual events like the Luray Valley Museum’s festivals and concerts, the town fosters a close-knit community atmosphere. Outdoor enthusiasts will enjoy river activities in the nearby Shenandoah River, perfect for canoeing, kayaking, and fishing. Whether you're seeking adventure or relaxation, Luray, VA offers a perfect blend of natural beauty and small-town charm.

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