Castlewood, VA
Population 1,120 · Virginia
About Castlewood, VA
Castlewood is a small town located in Virginia with a population of 1,120 residents according to the latest US Census Bureau American Community Survey data. The median household income is $58,958 per year, which is 22% below the national median of $75,149. The median age of 57.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Castlewood features a median home value of $163,300, which is 33% below the national median of $244,900. This positions Castlewood in a moderately priced market relative to the rest of the country. Median monthly rent is $740, 36% below the national average of $1,163/month. Of the 765 total housing units, 76% are owner-occupied (413 units) and 24% are renter-occupied (129 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Castlewood shows an unemployment rate of 1.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 11.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Castlewood have an average one-way commute time of 27.3 minutes.
Education & Demographics
15.5% of Castlewood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 3.4% of the population being foreign-born.
How Castlewood Ranks in Virginia
Cost of Living in Castlewood, VA
Compared to national averages, Castlewood has a median household income of $58,958 (22% below the national median of $75,149). Home values average $163,300, which is 33% below the national median. Monthly rent at $740 is 36% below the US average of $1,163. Within Virginia, Castlewood's income is 33% below the state average of $87,957, and home values are 50% below the state median of $327,514.
Why Live in Castlewood, VA?
Castlewood offers affordable housing with a median home value of $163,300, below the US average of $244,900, and rent that’s lower than the national average at $740/month, and a strong job market with an unemployment rate of just 1.2%. Additionally, the city features a low poverty rate of 11.7%, better than the national average.
Potential considerations include median household income ($58,958) that falls below the national average. However, Castlewood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Castlewood has a population of 1,120 with a median age of 57.7 years. Compare Castlewood with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Castlewood
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Riverdale | 1,129 | $61,779 | $177,000 | Compare |
| Pembroke | 1,130 | $57,841 | $132,000 | Compare |
| Emory | 1,135 | $62,500 | $203,800 | Compare |
| Jolivue | 1,135 | $38,738 | $243,900 | Compare |
| Maurertown | 1,138 | $89,375 | $263,400 | Compare |
| Innovation | 1,139 | $0 | $0 | Compare |
| Independence | 1,144 | $36,250 | $115,700 | Compare |
| Mathews | 1,145 | $53,108 | $178,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Castlewood With Other Cities
Frequently Asked Questions about Castlewood
What is the population of Castlewood, VA?
The population of Castlewood, VA is 1,120 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Virginia.
What is the median household income in Castlewood?
The median household income in Castlewood, VA is $58,958 per year, which is 22% below the national median of $75,149.
What is the median home value in Castlewood?
The median home value in Castlewood, VA is $163,300, which is 33% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Castlewood?
The median monthly rent in Castlewood, VA is $740, which is 36% below the national average of $1,163/month.
What is the unemployment rate in Castlewood?
The unemployment rate in Castlewood, VA is 1.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Castlewood, VA a good place to live?
Castlewood offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,120 and a median age of 57.7, the city appeals to established professionals and retirees.
How educated is Castlewood, VA?
15.5% of residents in Castlewood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Castlewood?
Key cost-of-living indicators for Castlewood, VA: median home value is $163,300 (33% below national), median rent is $740/month, and median household income is $58,958. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Castlewood?
The poverty rate in Castlewood, VA is 11.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Castlewood, VA?
Castlewood's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 3.4% of residents are foreign-born.