The 10 Most Affordable Cities in Virginia

By Drew Port

Mar. 20, 2025 at 11:56 AM CST

Boats along the Intracoastal Waterway in Chesapeake, 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 from the young to retirees. 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: 2.18

Average Property Tax: $768

Median Household Income: $42,434

Coming in high for affordable cities in Virginia is Martinsville. Martinsville, known as "The City of Mineral Water" due to its springs offers a charming blend of Southern hospitality and affordability. Tucked in southern Virginia near the North Carolina border, Martinsville is smaller but provides a lot for those looking for a balanced lifestyle without the high costs of larger urban areas.

Housing and overall cost of living here are significantly more affordable than in other parts of Virginia, making it an attractive spot for families, retirees, and those looking for a slower pace of life without giving up the essentials. The affordability factor here extends from housing to everyday expenses, appealing to people who want to stretch their budget a little further.

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. There’s Philpott Lake and Fairystone State Park nearby, both of which provide options for boating, hiking, and fishing against a scenic backdrop.

The Martinsville Speedway—a major draw—is known among NASCAR fans nationwide as one of the sport’s most iconic short tracks. This speedway doesn’t just bring high-speed excitement; it’s a central part of the city’s character, drawing visitors and adding a lively, event-driven atmosphere throughout the year.

Alongside the speedway, Martinsville boasts a thriving arts scene with spots like Piedmont Arts, which showcases regional artists and offers workshops, performances, and exhibits. Additionally, there are many delicious restaurants in the city, as well as intriguing shops and multicultural museums.

Martinsville combines the charm of small-town living with unique attractions and a deep sense of history, making it a place where people who appreciate community, affordability, and cultural heritage might find themselves right at home.

2. Danville

Home Price to Income Ratio: 2.58

Average Property Tax: $661

Median Household Income: $42,778

Danville, Virginia, known as the “City of Churches” for its many historic and architecturally significant religious buildings, sits on the border of Virginia and North Carolina. This location lends Danville a southern charm mixed with the affordability of a smaller town, a combination that’s drawing more people who want a relaxed pace without sacrificing essential amenities.

Housing costs here are notably lower than the national average, making homeownership accessible, and Danville’s real estate options will have you in a new home that matches your lifestyle. Danville is frequently described as a small town with big city offerings, making it the perfect place to build your dream home.

Living in Danville has its perks, not least of which is its connection to the Dan River. The river and surrounding natural areas offer plenty of outdoor activities like kayaking, fishing, and hiking, and the Danville Riverwalk Trail runs right alongside, providing scenic views.

History buffs and art lovers will appreciate the Danville Museum of Fine Arts and History, housed in the Sutherlin Mansion—a landmark tied to the Civil War era. Danville is also proud of its revitalized downtown, where you’ll find River District’s shops, restaurants, and a growing arts scene.

Danville has a storied history as a hub for textile and tobacco industries, but these days, it’s focused on growth in tech and advanced manufacturing. Institutions like the Institute for Advanced Learning and Research are at the heart of this transition. Employers like Goodyear, IKEA, and a mix of local firms provide stability and opportunities. Education here is solid, with local schools prioritizing small class sizes, and nearby Averett University provides higher education options in town.

Choose Danville -- the cost of living, the scenic beauty, and tranquility give it an edge over other Virginia cities.

3. Bristol

historic train station in bristol, virginia

Home Price to Income Ratio: 3.77

Average Property Tax: $1,052

Median Household Income: $44,706

Bristol, Virginia, known as “The Birthplace of Country Music,” stands out as one of the most unique small cities in the Appalachian region. Nestled right on the Virginia-Tennessee border, Bristol straddles two states, with its famous State Street marking the boundary. This gives it a dual identity, with half of the city in Tennessee and half in Virginia, making it a truly one-of-a-kind place.

Living here is highly affordable compared to many other parts of Virginia, with reasonable home prices and a lower cost of living that appeals to both young families and retirees. Healthcare options are solid, with facilities like the Ballad Health System. The area is very family-friendly, with good schools in the Bristol Virginia Public Schools district, and options for higher education just a short drive away.

Bristol’s rich musical heritage is one of its main draws. In 1927, the city became the recording site for the “Bristol Sessions,” widely considered the “Big Bang” of modern country music. Today, the Birthplace of Country Music Museum celebrates that legacy. Add to that the annual Bristol Rhythm & Roots Reunion, a music festival that takes over the city each September, and you’ve got a cultural scene with a deep sense of history and plenty of local pride.

There’s also the Bristol Motor Speedway nearby, a must-visit for NASCAR enthusiasts. Don’t miss out on the tranquil South Holston Lake. It’s a world class fishing destination that offers miles of mountain trails for biking or hiking.

All told, Bristol’s combination of affordability, culture, and outdoor access make it a compelling place to call home, offering a lifestyle that’s as rich in heritage as it is in scenery.

4. Roanoke

Home Price to Income Ratio: 3.43

Average Property Tax: $1,400

Median Household Income: $52,671

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.

The iconic illuminated star on Mill Mountain shines over the valley as a symbol of the city’s charm and resilience. For many, the affordability here is a real draw; housing prices are lower than in other major cities in Virginia, making it a welcoming option. The cost of living is manageable, allowing newcomers to settle into a comfortable lifestyle without the big-city price tag.

The city has an undeniable appeal for nature lovers, with easy access to the Blue Ridge Parkway and the Appalachian Trail, making it a hub for hiking, mountain biking, and even paddleboarding on the Roanoke River.

But there’s more than just the outdoors—Roanoke boasts a vibrant arts and culture scene, from the Taubman Museum of Art, which hosts rotating exhibits, to live music and local performances in Market Square. The historic City Market is another highlight, where you’ll find local vendors, fresh produce, and handmade goods, all set in a charming downtown filled with restaurants, breweries, and cafes.

Choosing Roanoke means opting for a lifestyle that embraces the best of Virginia’s natural beauty and a sense of close-knit community.

5. Lynchburg

monument overlooking downtown cityscape in lynchburg, virginia

Home Price to Income Ratio: 3.54

Average Property Tax: $1,559

Median Household Income: $59,808

Located between the stunning Blue Ridge and Appalachian Mountains, Lynchburg is often called the "City of Seven Hills" due to its rolling, hilly landscape. This city on the James River offers a lifestyle that’s both rich in history and appealingly affordable, especially compared to other parts of the state. The housing market is moderate, making homeownership a viable option for many, and day-to-day expenses are often lower than in bigger Virginia cities.

Find the historic downtown bustling with cafes, art galleries, and music venues. The revitalization of its downtown area has brought new life and a younger crowd to the city, creating a fresh, creative energy. Liberty University, one of the nation’s largest Christian universities, is a major presence in Lynchburg, while Randolph College and the University of Lynchburg add to its intellectual vibe. These institutions also bring a healthy dose of events and entertainment, giving the area an active social calendar.

The perks of Lynchburg extend into its natural beauty, with the Blue Ridge Mountains just a short drive away. Hiking, biking, and riverside parks like Percival’s Island offer outdoor escapes without leaving town. Popular attractions like Thomas Jefferson’s Poplar Forest, a secluded villa designed by Jefferson himself, and nearby Appomattox Court House appeal to history buffs.

People are drawn to Lynchburg for its affordability, scenic surroundings, and active, engaged community.

6. Petersburg

rowhouses in Petersburg, Virginia — Photo Credit: Adobe Stock

Home Price to Income Ratio: 3.11

Average Property Tax: $1,302

Median Household Income: $50,741

Petersburg, Virginia, has a rich historical tapestry, especially its role in the Civil War. Living in Petersburg is notably affordable, with a lower cost of living than nearby Richmond or even many other Virginian towns. This affordability opens the door to a blend of classic architecture, sprawling parks, and cultural sites that would be tough to find at these prices elsewhere in the region.

Petersburg is a city that will mesmerize history fanatics. It was the site of key battles during the Revolutionary and Civil Wars. The city is committed to preserving history. The entire downtown area is dotted with beautifully maintained structures from the 18th and 19th centuries. As a major Civil War battlefield site, Petersburg has extensive national landmarks, including the Petersburg National Battlefield, where the Siege of Petersburg took place.

Situated just 20 miles south of Richmond and within reach of D.C. and Virginia Beach, it’s ideally positioned for those who crave small-town life but still want access to bigger cities. The job market here has also seen a boost with employers in healthcare, manufacturing, and education, and nearby Fort Lee provides stability for the local economy.

Petersburg's pace is manageable and the community tight-knit. The town’s character brings together history and modern living in a way few places can. Many people are drawn to Petersburg because of its lower price tag.

7. Radford

Home Price to Income Ratio: 4.01

Average Property Tax: $1,193

Median Household Income: $52,791

Radford, Virginia, often called "The New River City," is perched along the New River’s bend, offering residents an unusual mix of scenic views, small-town feel, and the vibrancy that comes with a college town atmosphere. Radford University anchors the community.

While still under the radar compared to other parts of the state, Radford’s affordability is a big draw. Homes and the cost of living here are generally lower than in nearby cities like Blacksburg and Roanoke, and there’s a variety of housing options.

Living in Radford means you’re close to the Appalachian Trail and numerous other outdoor activities. The New Riveris a hub for water sports, fishing, and kayaking. The Radford area holds treasures like the Glencoe Mansion and the Mary Draper Ingles Trail, which both capture important pieces of the region’s past.

Residents enjoy annual events such as Highlander Festival, celebrating Radford’s Scottish roots, and events at Bisset Park along the riverfront provide local charm and a sense of community. For those who want a slower pace without giving up the vibrancy of a college town, Radford is a hidden gem.

8. Hopewell

Home Price to Income Ratio: 3.39

Average Property Tax: $1,281

Median Household Income: $48,681

Those looking to live in a city that has a little bit of everything will love Hopewell. The “Wonder City,” is an affordable option with lower housing costs and cost of living. Ready to broaden your culinary horizons? 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.

History buffs will appreciate sites like City Point, a historic area used as a Union supply base during the Civil War, as well as General Grant’s Headquarters, a historic home with panoramic views of the river. Living in Hopewell means easy access to these historical gems, as well as outdoor activities such as boating, fishing, hiking, biking, ziplining, and riverside strolls that locals cherish.

Hopewell’s revitalized downtown also brings a touch of modernity, with local shops, cafes, and restaurants adding vibrancy to the area. Hopewell offers several strong educational options, including the Hopewell City Public Schools and nearby community colleges. The area is served by John Randolph Medical Center, part of the HCA Virginia network.

People opt for Hopewell for its affordability, riverside charm, and the unique blend of historic and modern elements that set it apart from many other small cities in Virginia.

9. Staunton

Home Price to Income Ratio: 3.82

Average Property Tax: $1,459

Median Household Income: $62,586

Staunton is located in Virginia’s Shenandoah Valley and the Blue Ridge Mountains. Staunton has earned the nickname “Queen City of the Shenandoah” for its historical charm and scenic backdrop. Staunton sits comfortably between affordability and quality of life, offering both historic homes and modern residences that appeal to newcomers. Compared to nearby areas like Charlottesville, Staunton tends to be more affordable. The cost of living here is modest, with housing options including newer suburban developments.

Staunton is the birthplace of President Woodrow Wilson, and you’ll find the Woodrow Wilson Presidential Library and Museum here. The city is also home to the American Shakespeare Center’s Blackfriars Playhouse, the world’s only replica of Shakespeare’s indoor theater. Art galleries, specialty shops, and a strong local food scene further set Staunton apart, giving residents a lot to explore without needing to venture far.

Scenic natural beauty will be your new norm with the Blue Ridge Parkway and Shenandoah National Park nearby. Spend your days on the trails or camping in some of Virginia’s most beautiful landscapes.

Staunton hits it out of the park for education and services. The well-regarded public school system allows for student success. Nearby Mary Baldwin University , known for its liberal arts and women’s leadership programs, is a great educational option. Augusta Health in nearby Fishersville provides comprehensive medical services, so healthcare needs are well met.

Staunton’s charm, affordability, and easygoing lifestyle make it a solid choice for anyone looking to settle down with access to cultural richness, natural beauty, and a strong sense of community.

10. Waynesboro

Trees along the Blue Ridge Parkway in Virginia — Photo Credit: Adobe Stock

Home Price to Income Ratio: 4.20

Average Property Tax: $1,336

Median Household Income: $56,364

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. Known as the "Gateway to the Blue Ridge," Waynesboro boasts easy access to hiking trails, waterfalls, and views that stretch for miles.

The city's affordability sets it apart from more expensive nearby areas like Charlottesville. When you're looking for a new home, you’ll find housing options that don’t carry the premium of larger urban areas. The cost of living in Waynesboro is significantly lower than the national average, making it attractive without the financial pressure of bigger cities.

Waynesboro’s location, blend of history, and outdoor recreation all add to its draw. The city is just a stone's throw away from the Shenandoah National Park, offering residents access to hundreds of miles of trails, camping spots, and pristine nature. The Blue Ridge Parkway also passes nearby.

Waynesboro itself has a small but vibrant downtown district, where you’ll find galleries, local eateries, and shops nestled between charming brick buildings. The historic Wayne Theatre is a cultural gem, offering concerts, movies, and live performances. The annual Virginia Fly Fishing and Wine Festival, held in Waynesboro, draws visitors from all over the country.

On the healthcare front, Waynesboro is served by Augusta Health in Fishersville. In terms of education, the city has well-regarded public schools, and it is also within easy driving distance of several colleges, including James Madison University and the University of Virginia in nearby Charlottesville.

Waynesboro for the win in Virginia!

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.