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City Report · VA

Martinsville

Pop. 13,658·83rd most expensive in Virginia·One of the most affordable rental markets in the US
Median rent (all units)
$883/mo
Year-over-Year
Stable
Month-over-Month
+1.4%
vs US Median
-$1,079
Rising (Monthly)
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Most AffordableMost Expensive
Martinsville · $883
More affordable than 99% of US cities · National median $1,962/mo
Affordability
23% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $883/mo, rent takes about 23% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$35,000/yr
Local median income
$46,727/yr
Based on the 30%-of-income rule using Martinsville's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$700
1 BR
$700
2 BR
$880
3 BR
$1,060
4 BR+
$1,260
Fair Market Rent (HUD)
$880/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $883 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$10,596/yr
At $883/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +1.4% MoM), not inventory.
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Demographics

Who lives here

Martinsville, VA is majority owner-occupied, has a large share of families with children, has a median income below the national average, 22.1% of residents hold a bachelor's degree or higher.

Population
13,658
Median income
$46,727
Median age
38.4
Renters
44.6%
Age distribution
26.8%
18.4%
24.7%
13.4%
16.7%
Under 1826.8%
18–3418.4%
35–5424.7%
55–6413.4%
65+16.7%
Gender
46.5%
53.5%
Male46.5%
Female53.5%
Race & ethnicity
42.3%
44%
White42.3%
Black44%
Hispanic8.6%
Asian2.9%
Other2.3%
Education (25+)
33.2%
33.4%
22.1%
No HS diploma11.3%
HS diploma33.2%
Some college33.4%
Bachelor's+22.1%
Housing tenure
55.4%
44.6%
Owner55.4%
Renter44.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Martinsville, VA has changed in 5 years

Income
$36,832 → $46,727
up 26.9%
Population
13,476 → 13,658
up 1.4%
Renter share
42.3% → 44.6%
+2.3 pts
Bachelor's+
22.1% → 22.1%
+0.0 pts
Median age
40.6 → 38.4
-2.2 yrs

Median household income climbed from $36,832 to $46,727 between 2021 and 2024, a 26.9% shift. Census counts show Martinsville, VA adding about 182 residents over the five-year window, up 1.4% on net. The renter share has risen from 42.3% to 44.6%, with owner-occupied housing accounting for the remainder.

Community

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View Martinsville rent history (2015–2026) →
Salary vs rent

Can you afford rent in Martinsville on your salary?

At $883/mo, how Martinsville rent compares to typical pay (30% rule).

By apartment size

Martinsville rent by bedroom count

Median rent for each apartment size in Martinsville. Click any size for full breakdown.

Local insights

Tips for renters in Martinsville

About renting in Martinsville, VA

Last updated: August 17, 2026

The median rent in Martinsville is $883/mo as of August 2026. A studio apartment averages $700/mo while a 2-bedroom runs $880/mo. One-bedroom apartments average $700/mo and 3-bedroom units go for $1,060/mo.

At 23% of local median household income ($46,727/yr), Martinsville ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Martinsville an affordable city for renters?

Martinsville is considered very affordable for renters. At $883/mo, rent takes approximately 23% of the local median household income ($46,727/yr). The standard benchmark is 30%. Martinsville falls comfortably within that range.

How much income do you need to rent in Martinsville?

To keep rent at or below 30% of gross income, you would need to earn at least $35,000/year (~$17/hour full-time) to afford the median rent of $883/mo in Martinsville. The local median household income is $46,727/yr, meaning the typical Martinsville household meets that threshold.

Is rent going up or down in Martinsville?

Rent in Martinsville has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Martinsville rent compare to other cities in Virginia?

Martinsville is one of the more affordable cities in Virginia for rent, ranking #83 out of 83 tracked cities at $883/mo.

What percentage of Martinsville residents rent vs. own?

According to Census data, approximately 44.6% of Martinsville households are renters, while 55.4% are owner-occupied. Martinsville leans toward homeownership, which can mean a smaller rental inventory.

How does Martinsville rent compare to the national average?

Martinsville's median rent of $883/mo is $1,079 (55%) below the US national median of $1,962/mo. Within Virginia, it ranks #83 out of 83 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $883/mo, rent takes ~23% of Martinsville's median household income ($46,727/yr). The standard benchmark is 30%.

Martinsville 23%Benchmark 30%
State income tax2–5.75%
Run the Martinsville affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Martinsville, VA

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