Martinsville city, Virginia Housing Market
In Martinsville city, Virginia, the median home value is $98,400, with a median monthly rent of $808. This places Martinsville city at #2941 nationally out of 3134 counties by median home value, and #131 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $822
- Establishments: 913
- BLS QCEW, 2025
Migration Patterns
- Inflow: 5,282 (avg $52,410)
- Outflow: 4,891 (avg $53,339)
- IRS Statistics of Income
💰 Ready to Finance a Purchase?
See the 2026 FHA and conforming loan limits for Martinsville city, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Martinsville city →How Martinsville city Compares
| Metric | Martinsville city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $98,400 | $295,807 | $227,706 |
| Median Gross Rent | $808 | $1,169 | $968 |
| Owner Occupancy Rate | 55.4% | 70.8% | 73.3% |
| Price/Rent Ratio | 10.1 | 20.3 | 18.7 |
Market Analysis
The median home value in Martinsville city is 66.7% below the Virginia state average and 56.8% below the U.S. national average. The median rent of $808/month is 30.9% below the state average.
With a price-to-rent ratio of 10.1, buying a home in Martinsville city is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Martinsville city has an owner-occupancy rate of 55.4%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Furnas County | Nebraska | $98,400 | $763 |
| Yukon-Koyukuk Census Area | Alaska | $98,500 | $1,084 |
| Jackson County | Arkansas | $98,300 | $668 |
| Bertie County | North Carolina | $98,500 | $839 |
| Wibaux County | Montana | $98,600 | $963 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Lee County | $98,900 | $738 | 73.0% |
| Buchanan County | $94,900 | $743 | 83.1% |
| Dickenson County | $102,700 | $738 | 76.1% |
| Norton city | $110,000 | $692 | 50.0% |
| Covington city | $83,500 | $794 | 70.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).