New Castle: Economy & Jobs
$77,083 is the median household income in New Castle (1.1× higher than Craig County median $69,057; 1.2× below Virginia median $93,170), with homes at a median value of $256,300. The surrounding county supports 760 jobs (avg $52,718).
- $61,397 avg taxable income per return — lower than the median household income (vs Virginia $92,983).
Income & Affordability
Median household income $77,083 — below the Virginia median ($92,968). Poverty rate 8.0% (U.S. average ~12.5%). 30% of renters spend more than half their income on rent ("severely cost-burdened" by HUD definition; U.S. ~24%).
| Affordability · Home Price To Income | 3.3× |
|---|---|
| Affordability · Home Affordability | moderate |
| Affordability · Rent Pct Income | 12.8% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 30.0% |
| Affordability · Poverty Rate | 8.0% |
| Affordability · Property Tax Pct Income | 1.5% |
| Irs Income · IRS tax returns filed | $2,290 |
| Irs Income · Total Adjusted Gross Income (thousands) | $140,599 |
| Irs Income · Average AGI per return | $61,397 (vs Virginia $92,983) |
| Irs Income · Year | 2022 |
| Income Estimate | $77,234 |
| Median Household Income | $77,083 (vs Virginia $92,968) |
| Poverty Rate | 8.0% |
Sources: IRS SOI 2022 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Economic Character
Qualitative classification derived from Census occupation, industry, and income data — workforce composition (white-collar/blue-collar), top employing sector, and income tier.
| Economic Character · Workforce | white_collar |
|---|---|
| Economic Character · Top Industry | Manufacturing |
| Economic Character · Income Level | upper-middle |
| Economic Character · Median Income | $77,083 |
Employment & Workforce
Employment + workforce stats. The county-level employment count covers all jobs within the county, not just town residents. Unemployment rate 3.5% — below the U.S. average of ~4%. 7% work from home (U.S. average ~15%).
| Commuter Profile · Work From Home Pct | 6.8% |
|---|---|
| Commuter Profile · Primary Mode | drove alone |
| Commuter Profile · Mean Commute Min | 34.10 |
| Commuter Profile · Profile | long commute / bedroom community |
| Employment · Avg annual employment (county) | 760 |
| Employment · Total annual wages (county) | $40,078,925 |
| Employment · Average annual pay | $52,718 |
| Employment · Year | 2024 |
| State Occupation Wages · Year | 2023 |
| State Occupation Wages · All Occupations · Soc Code | 00-0000 |
| State Occupation Wages · All Occupations · Title | All Occupations |
| State Occupation Wages · All Occupations · Employment | 3,981,130 |
| Unemployment Rate | 3.5% (vs Virginia 2.9%) |
Sources: BLS QCEW 2023 · BLS Occupational Employment and Wage Statistics (OES) · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Industry Sectors
Major industries by establishment count from Census County Business Patterns (2022). Sectors are NAICS-coded; counts are county-wide employer establishments.
| Agriculture · Total Farms | 186 |
|---|---|
| Agriculture · Land In Farms Acres | 4,495 |
| Agriculture · Avg Farm Size Acres | 24.20 |
| Agriculture · Top Commodities | Animal Totals, Cattle, Crop Totals, Field Crops, Other, Fruit & Tree Nut Totals |
| Agriculture · Year | 2022 |
| Business Patterns · Establishments (employer count) | 70 |
| Business Patterns · Total Employees | 375 |
| Business Patterns · Annual Payroll Thousands | 13,953 |
| Business Patterns · Year | 2022 |
Sources: USDA NASS Census 2022 — county FIPS matched · Census CBP API — county FIPS match
Banking
FDIC-insured bank branches with addresses. Branch density correlates with population — fewer branches per resident in lower-density areas.
Branches (1)
SNAP & Food Access
USDA-authorized SNAP retailers — supermarkets, super stores, convenience stores, and other locations where SNAP benefits can be redeemed. Per-1K density tracks food access.
Sample (4)
| Nearest Snap · Name | Family Dollar 7581 |
|---|---|
| Nearest Snap · Total In Area | 4 |
Chamber of Commerce
IRS-registered chamber of commerce organizations matched to this town. Reflects the IRS Exempt Organizations BMF; some chambers operate informally and may not appear here.
| Chamber Of Commerce · Name | BEDFORD AREA CHAMBER OF COMMERCE FOUNDATION INC |
|---|
Sources: IRS EO BMF · Refreshed 2026-04-12
Spending & Tax
Federal spending flowing to the surrounding county — direct payments, grants, contracts, loans (USAspending.gov).
| Federal Spending · Federal Spending Fy2024 | $43,285,897 |
|---|---|
| Federal Spending · Per Capita | 8,848.30 (vs Virginia $14,580) |
| Federal Spending · Population | 4,892 people (vs Virginia 42,214) |
Sources: USAspending API
Other
| Pct Drove Alone | 65.8% |
|---|---|
| Pct Walked | 6.8% |
| Retirement Score · Median age | 29.3 years (vs Virginia 37.8y) |
| Retirement Score · Ss Household Pct | 20.4% |
| Retirement Score · Va Access | Yes |
| Retirement Score · Factors | VA nearby |
| Retirement Score · Rating | limited |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12