Cost of Living in Martinsville city, Virginia
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Martinsville city Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Martinsville city ranks #1,124 of 3,142 counties for affordability (top 36%)
Sourced county brief
Martinsville City Median Home Value Below $100,000
Martinsville city, Virginia, has a median home value of $98,400, which is $197,408 below the Virginia unweighted county mean of $295,808. The median gross rent in the city was estimated at $808 per month, while the state unweighted county mean was $1,170. The city’s official median gross rent as a percentage of household income (GRAPI) is 24.6%, which is 4.0 percentage points lower than the Virginia unweighted county mean of 28.6%. Renter-household income was recorded at a median of $37,125. For owner-occupied units, the median selected monthly owner costs were $767, compared to the state unweighted county mean of $1,190. These statistics are based on the 2020-2024 American Community Survey 5-Year Estimates. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Martinsville city
Affordability Verdict
ACS B25071 estimates median gross rent at 24.6% of renter household income in Martinsville city, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $808 per month; median selected monthly owner costs are $767. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $32,320 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Virginia unweighted mean of county median rents is $1,170 per month. Martinsville city's $808 median is 30.9% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Martinsville city
Rent Burden
20.8%
of gross income
Max Housing (28% Rule)
$1,090
per month
Owner Cost Burden
19.7%
of gross income
You can likely afford the median home in Martinsville city
Median home value is $98,400. Estimated monthly cost: $786 vs. your max of $1,090.
Rent Affordability Guide
Income Needed Calculator
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
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