Virginia attracts Americans from all over. And there are good reasons why: cheaper houses, excellent healthcare, and affordable cost of living. You can’t go wrong with the Old Dominion State!
Although property prices have risen in recent years, the average home value in the top 10 cheapest cities in Virginia is still only around $200,000. Covington’s cost of living is 33.5% lower than the national average, and Martinsville is 32.4% more affordable than the rest of the country.
But that’s not all! Retirees can enjoy Lynchburg’s friendly community and peaceful environment, with homes averaging a nominal $250K. Meanwhile, Bristol offers a booming job market in education, healthcare, and technology, with median home prices at just $203,027.
Cheapest Places to Live in Virginia in 2024
Here’s our ranking of the most affordable places to live in Virginia. We’ve considered the average household income, median list price, median house rent, and the population of the cities.
| City | Median Home Value | Median House Rent | Cost of Living Compared to National Average | Median Household Income | Population |
|---|---|---|---|---|---|
| 1. Martinsville | $128,087 | $800 | 32.4% lower ⬇️ | $39,127 | 13,763 |
| 2. Covington | $141,333 | $500 | 33.5% lower ⬇️ | $45,737 | 5,545 |
| 3. Danville | $149,441 | $1,200 | 30.8% lower ⬇️ | $41,484 | 41,837 |
| 4. Pulaski | $153,610 | $895 | 17.7% lower ⬇️ | $55,213 | 8,858 |
| 5. Bristol | $203,027 | $1,495 | 24.7% lower ⬇️ | $45,250 | 16,807 |
| 6. Portsmouth | $254,172 | $1,500 | 9.6% lower ⬇️ | $57,154 | 96,793 |
| 7. Lynchburg | $250,865 | $1,450 | 19.1% lower ⬇️ | $56,243 | 79,535 |
| 8. Roanoke | $260,818 | $1,295 | 19.1% lower ⬇️ | $51,523 | 97,171 |
| 9. Norfolk | $296,597 | $1,600 | 8.6% lower ⬇️ | $60,998 | 230,930 |
| 10. Staunton | $289,471 | $1,600 | 20.4% lower ⬇️ | $59,731 | 25,915 |
10 Cheapest Places to Live in Virginia
Here’s our list of 10 cities that offer affordable living options in the Old Dominion State:
#1 Martinsville
- Median house rent is $800 | Rental prices range between $550 and $1,250.
- Median home value of Martinsville is $128,087.
- Cost of living in Martinsville is 32.4% cheaper than the national average.
Martinsville is one of the most affordable places to live in Virginia, with housing costs 73.5% lower than the national average. It is home to the Virginia Museum of Natural History, which is a popular attraction. Major employers like Carter Bank & Trust, and Hooker Furniture contribute significantly to the local economy.
» Martinsville Homes for Sale: Find your dream home in the cheapest cities to live in Virginia.
#2 Covington
- Median house rent is $500 | Rental prices range between $450 and $945.
- Median home value of Covington is $141,333.
- Cost of living in Covington is 33.5% cheaper than the national average.
Covington’s median house rent is $950, much lower than the national median. Situated in Alleghany County, the Jefferson National Forest, and the Greenbrier Falconry are popular attractions. Sonoco and Shentel are two major companies that provide frequent employment opportunities.
» Covington Homes for Sale: Browse thousands of properties in one of the most affordable places to live in Virginia.
#3 Danville
- Median house rent is $1,200 | Rental prices range between $600 and $3,700.
- Median home value of Danville is $149,441.
- Cost of living in Danville is 30.8% cheaper than the national average.
- 1 Popular Zip in Danville, VA: 24540 | 02021
With rental costs 30.8% below the national average, Danville is one of the most affordable cities to live in Virginia. The Riverwalk Trail, the White Mill building and the Veterans’ Memorial are popular attractions. Sovah Health and Infinity Global are major employers in the health and packaging industries.
» Danville Homes for Sale: Search homes in one of the cheap areas to live in Virginia.
#4 Pulaski
- Median house rent is $895 | Rental prices range between $425 and $1,400.
- Median home value of Pulaski is $153,610.
- Cost of living in Pulaski is 17.7% cheaper than the national average.
- 1 Popular Zip in Pulaski, VA: 24301
Pulaski is one of the most affordable cities in Virginia. Monthly utilities cost 3.5% lower than nationwide, and companies like Pulaski Furniture and Bondcote Corporation offer ample job opportunities. The Raymond F. Ratcliffe Transportation Museum and the Dora Trail are popular outdoor attractions.
» Pulaski Homes for Sale: Browse thousands of properties in one of the most affordable places to live in Virginia.
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#5 Bristol
- Median house rent is $1,495 | Rental prices range between $795 and $2,400.
- Median home value of Bristol is $203,027.
- Cost of living in Bristol is 24.7% cheaper than the national average.
Known as ‘the Birthplace of Country Music’, Bristol has a cost of living 24.7% lower than nationwide. Housing also costs 56.9% lower on average. The Appalachian and Bristol Caverns are popular spots to visit in the city. Renowned companies like Electro-Mechanical and Strongwell provide frequent employment for residents.
» Bristol Homes for Sale: Browse through properties in the most affordable cities in Virginia.
6. Portsmouth
- Median house rent is $1,500 | Rental prices range between $350 and $3,000.
- Median home value of Portsmouth is $254,172.
- Cost of living in Portsmouth is 9.6% cheaper than the national average.
You can live comfortably in Portsmouth with an average household income of $57,154. Groceries in the city cost 4.2% lower than nationwide. Earl Industries and the U.S. Coast Guard are major employers and provide frequent employment opportunities.
» Portsmouth Homes for Sale: Find a home in one of the cheapest places to live in VA.
#7 Lynchburg
- Median house rent is $1,450 | Rental prices range between $438 and $123,456.
- Median home value of Lynchburg is $250,865.
- Cost of living in Lynchburg is 19.1% cheaper than the national average.
- 3 Popular Zips in Lynchburg, VA: 24502 | 24501 | 24503
The food and grocery expenditure is 5% lower than the national average, which makes Lynchburg one of the cheapest places to live in Virginia. It is also renowned for its moderate climate. The Lynchburg Community Market, Liberty Mountain Snowflex Centre, and Maier Museum of Art are popular amongst residents.
» Lynchburg Homes for Sale: Get yourself a home in one of the most inexpensive places to live in Virginia.
#8 Roanoke
- Median house rent is $1,295 | Rental prices range between $150 and $3,195.
- Median home value of Roanoke is $260,818.
- Cost of living in Roanoke is 19.1% cheaper than the national average.
- 2 Popular Zips in Roanoke, VA: 24012 | 24018
The cost of living in Roanoke is 19.1% lower than the national average. Housing costs in Roanoke are also 33.1% less. Also, Adams Construction and Lawrence Companies are two major employers that offer jobs in this area.
» Roanoke Homes for Sale: Find a home in the cheapest city to live in Virginia.
#9 Norfolk
- Median house rent is $1,600 | Rental prices range between $250 and $5,500.
- Median home value of Norfolk is $296,597.
- Cost of living in Norfolk is 8.6% cheaper than the national average.
- 1 Popular Zip in Norfolk, VA: 23502
Norfolk’s average home rent costs $1,600. Transportation also costs 17.6% lower than the national average. Additionally, Sentara Healthcare and PRA Group Careers are two top employers in the city. Additionally, the city is known for the Chrysler Museum of Art and the Virginia Symphony Orchestra.
» Norfolk Homes for Sale: Find cheap houses in Virginia.
#10 Staunton
- Median house rent is $1,600 | Rental prices range between $850 and $2,900.
- Median home value of Staunton is $289,471.
- Cost of living in Staunton is 20.4% cheaper than the national average.
- 1 Popular Zip in Staunton, VA: 24401
With a median home price of $289K, Staunton is one of the most affordable cities in Virginia. Transportation is 34.1% more affordable than nationwide. It offers ample job opportunities in the social services, and insurance sectors. People Places and Barker Claim Svc. are two top employers in Staunton.
» Staunton Homes for Sale: Find cheap homes in Virginia.
So, Where Is the Cheapest Place to Live in Virginia?
If you want to move to Virginia, you will find cheap houses for sale in Virginia under 200K in cities like Martinsville, Covington, and Danville. They also offer stable job opportunities, and a low cost of living which is more affordable than other Virginia cities.
Cities like Portsmouth and Norfolk are slightly expensive but provide better job opportunities. You must research the home prices and living costs. Also, getting a mortgage pre-approval helps you stand out in the competition before buying a house in Virginia.
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Research Methodology
To rank the top cities in Virginia, we analyzed all the regions, evaluating them based on specific criteria. Below is a breakdown of the factors used and the sources of information that informed our rankings.
- Population: World Population Review [1]
- Median Home Price: Zillow [2]
- Median Rent: Zillow [3]
- Cost of Living: Rent Cafe [4]
Frequently Asked Questions
Which is the least expensive place to live in Virginia?
The cheapest place to live in Virginia is Martinsville. It offers affordable housing, which is 73.5% lower than the national average.
» 10 Cheapest Places to Live in Virginia: Find out the other cheapest places to live in Virginia.
Where is the best place to live in Virginia?
The best place to live in Virginia is Martinsville, followed by Danville, Bristol, Big Stone Gap, Bluefield, Roanoke, Lynchburg, Charlottesville, Alexandria and Virginia Beach.
Is Virginia cheap to live in?
No, it is not. The median home value is $392,434. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
Which Virginia city has the lowest cost of living?
Covington has the lowest cost of living, which is 33.5% and 36.2% lower than the national and state average, respectively.
