Quick facts: Red oak, VA

Quick Facts

106
Cost of Living
above US average
210
Population
71.43
Crime Rate per 1000
above US average
$50,000
Median Income
below US average
$99,000
Median House Price
above US average
$1200.0
Average Rent
below US average
12%
Poverty Rate
above US average
4.5%
Unemployment Rate
above 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 $50,000.

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Income Needed to Buy

βœ“ Affordable
$31k/year
Based on $99,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($50,000) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$51k/year
Based on $1200.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $51k vs median $50,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Red oak, VA

Red Oak is a small, unincorporated community located in Charlotte County, Virginia. Nestled in a rural area, it offers a tranquil lifestyle surrounded by the natural beauty of Virginia's countryside. The community is characterized by its picturesque landscapes, including rolling hills and farmland, providing a serene environment for residents and visitors. Historically, Red Oak has been known for its agricultural roots and close-knit community. The area is predominantly residential, with a mix of traditional homes and farms. Though it may not feature large commercial centers, local amenities are accessible in nearby towns, offering essential services and shopping options. Outdoor activities are abundant in the surrounding areas, with opportunities for hiking, fishing, and exploring nature. Red Oak's location in the heart of Virginia makes it a convenient base for exploring nearby attractions, including state parks and historical sites. Overall, Red Oak is ideal for those seeking a quiet, rural lifestyle with a sense of community and connection to nature.

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