The 10 Most Affordable Cities in Virginia

Virginia is known for its exquisite nature, exhilarating outdoor activities, and extensive history. It’s no wonder it’s an appealing state to set down roots. Since there are numerous amazing cities across Virginia, finding the right one can be difficult. NewHomeSource has compiled a list of the 10 most affordable cities in Virginia to help you find the perfect place to call home.

10 Most Affordable Cities:

1. Martinsville

Home Price to Income Ratio: 3.16%

Average Property Tax: 680

Median Household Income: $27,746

The most affordable city in Virginia is Martinsville. It is encircled by the Blue Ridge Mountains, which provide an abundance of opportunities for outdoor recreation. Locals can go fishing, kayaking, or take a stroll along the beautiful nature trails. Additionally, there are many delicious restaurants in the city, as well as intriguing art centers and multicultural museums.

2. Danville

Home Price to Income Ratio: 2.43%

Average Property Tax: 643

Median Household Income: $37,203

Danville is located on the southern border of Virginia, and is frequently described as a small town with big city offerings, making it the perfect place to build your dream home. Thus, you will find a variety of indoor and outdoor activities – recreational and educational. You can hike in the beautiful rolling countryside, learn about the art and culture, or enjoy a flavorful meal at one of the popular restaurants.

3. Bristol

Home Price to Income Ratio: 2.98%

Average Property Tax: 1039

Median Household Income: $37,500

Bristol is nestled away in the Appalachian Mountains and is surrounded by the tranquil South Holston Lake. It’s a world class fishing destination that offers miles of mountain trails for biking or hiking. In addition, there is a happening downtown area where folks can eat at the famous Burger Bar.

4. Roanoke

Home Price to Income Ratio: 3.05%

Average Property Tax: 1378

Median Household Income: $44,230

Roanoke, often referred to as the “Star City of the South”, is the recreational, cultural, and business hub of Virginia’s Blue Ridge Mountains. The city is packed with art galleries, museums, sports, shopping, and so much more. Additionally, there are panoramic places to go camping, hiking, mountain biking, as well as tubing and paddling along the river.

5. Lynchburg

Home Price to Income Ratio: 3.45%

Average Property Tax: 1521

Median Household Income: $46,409

Located between the stunning Blue Ridge and Appalachian Mountains, Lynchburg is a city that outdoor enthusiasts would love to call home. From hiking and biking to swimming and camping, the activities in Lynchburg are endless. Lynchburg also offers one of the most scenic drives in the country via Blue Ridge Parkway and Peaks of Otter Lodge.

6. Petersburg

Home Price to Income Ratio: 2.79%

Average Property Tax: 789

Median Household Income: $38,679

Petersburg is a city that will mesmerize history fanatics. The history of Petersburg is almost as long as that of the United States; it was the site of key battles during the Revolutionary and Civil Wars. Besides the history, there is also a thriving downtown area with locally-owned restaurants, coffee shops, bars, galleries, and museums.

7. Radford

Home Price to Income Ratio: 4.71%

Average Property Tax: 1127

Median Household Income: $36,297

Radford is located in the southwestern part of Virginia. It is a charming city that offers locals a hometown feel and plenty of things to do. Folks who decide to live in Radford can spend their days relaxing at Wildwood Park, shopping at the Green Heron Art Center, or dining at Sal’s Italian Restaurant.

8. Hopewell

Home Price to Income Ratio: 3.15%

Average Property Tax: 1254

Median Household Income: $39,030

Those looking to live in a city that has a little bit of everything will love Hopewell, especially if you want to broaden your culinary horizon. From homemade honey to locally roasted coffee beans, fresh oysters, and delicious BBQ, no matter what you are craving, you can find it in Hopewell. Additionally, this Virginia city has incredible spots for boating, fishing, ziplining, hiking, and biking.

9. Staunton 

Home Price to Income Ratio: 3.21%

Average Property Tax: 1470

Median Household Income: $52,611

Staunton is located in Virginia’s Shenandoah Valley and the Blue Ridge Mountains. This means there are plenty of outdoor activities to keep locals busy year-round. Furthermore, Staunton is known for having one of America’s best Historic Main Streets, which drips with culture and arts. There are also many local restaurants and shops to suit nearly everyone’s taste and budget.

10. Waynesboro

Home Price to Income Ratio: 3.87%

Average Property Tax: 1306

Median Household Income: $45,011

Waynesboro might just be one of the most picturesque places in Virginia. From Shenandoah National Park to the Appalachian Trail and Blue Ridge Parkway, Waynesboro is drenched in beauty. Residents can experience an abundance of savory restaurants, historical museums, and down-home cafes. What more could one ask for in a place to call home?

Cities with the Best Home Price to Income Ratio

While the list above is sorted by the lowest overall cost of living index, the following cities have the lowest home price to income ratio, meaning you can get more home for your money.

1. Danville
2. Petersburg
3. Bristol