The Most Affordable Neighborhoods in Martinsville City, VA by Home Value

These days, finding an affordable place to live in the Martinsville City area can be challenging. Home prices in Martinsville City are now at a median cost of $102,693, lower than the Virginia average of $443,089.

The average cost of rent is $828/mo in Martinsville City, primarily driven by the current value of real estate in the Martinsville City area. In Martinsville City, 44.58% of households rent, and 42.77% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Martinsville City is $4,215 per month. Households that rent pay about 19.64% of their income on rent here. Martinsville City’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northwestern parts of the county.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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