Cheapest Places to Live in Virginia

Virginia, with its rich history, diverse landscapes, and vibrant cities, offers a variety of living experiences. Landmarks such as Colonial Williamsburg, Shenandoah National Park, and Mount Vernon highlight the state's historical and natural attractions. The state's economy is robust and diverse, driven by sectors such as technology, healthcare, and education. Virginia's tax structure includes moderate income and property taxes, which contribute to its overall affordability. Despite recent inflation and rising food costs, Virginia remains one of the more affordable states in the Mid-Atlantic region, especially in its smaller towns and rural areas. The combination of a diverse economy and manageable living costs makes Virginia an attractive place for those seeking affordability and quality of life.

Affordable living in Virginia can often be found in smaller towns and suburban areas where housing costs and everyday expenses are lower. These regions provide a more manageable cost of living, which is essential for maintaining financial stability. Affordability is a key factor in livability, as it allows residents to enjoy a comfortable standard of living without undue financial strain. Factors contributing to the cheapest places to live in Virginia include lower housing demand in less populated areas, supportive local economic policies, and efficient public services. Utilizing C2ER's cost of living data helps to identify these affordable regions, ensuring that potential residents can make informed decisions. In a state known for its historical significance and economic opportunities, finding affordable living options enhances the overall living experience.

Martinsville Population: 12,646 24% cheaper than Virginia average

Med. Home Value: $79,000 Med. Rent: $664 Med. Household Inc.: $36,166

With a cost of living index that is 24% cheaper than the state average, Martinsville is the cheapest place to live in Virginia. This area offers residents a remarkable blend of relatively low housing costs, budget-friendly grocery prices, affordable utilities, and economical health care services, making it an attractive destination for those seeking to stretch their dollars further. Whether you're a young professional, a growing family, or someone looking to enjoy a more relaxed pace of life, Martinsville provides an inviting and cost-effective environment to call home.

Danville Population: 40,668 24% cheaper than Virginia average

Med. Home Value: $95,500 Med. Rent: $688 Med. Household Inc.: $37,147

The second most affordable city in Virginia is Danville and stands out for its cost-effective lifestyle. With an overall cost of living that is 24% cheaper than the Virginia average, overall goods and services, housing, utilities, transportation and health care costs fall within a reasonable range. Median household income levels are steady and come in at , which helps to increase the purchasing power of the local residents.

Galax Population: 6,402 23% cheaper than Virginia average

Med. Home Value: $97,400 Med. Rent: $571 Med. Household Inc.: $35,184

Galax lands in the #3 spot for the cheapest cities to live in Virginia, with a cost of living that is 23% cheaper than the state average. With home prices averaging and rental rates coming in around , it helps that household income levels average about , which assists with paying the mortgage or your monthly rent. Its robust public school system and accessible health care further enhance its appeal, making it a great place to settle down. The strong community spirit and ample recreational opportunities add to its charm.

Collinsville Population: 7,019 23% cheaper than Virginia average

Med. Home Value: $101,600 Med. Rent: $595 Med. Household Inc.: $40,710

The cost of everyday grocery items, goods & services and of course housing, can have a significant impact on the overall cost of living in any area. Collinsville offers a picturesque and affordable living environment, with a cost of living that is 23% cheaper than the state average. Everyday items like ground beef , eggs , coffee and pizza are all fairly reasonable compared to most other cities, which helps reduce those grocery bills. Home prices are also fairly affordable (compared to the state average), coming in at around .

Covington Population: 5,653 23% cheaper than Virginia average

Med. Home Value: $70,400 Med. Rent: $760 Med. Household Inc.: $41,024

For those wanting to live well on a budget, Covington is ideal, with a cost of living that is 23% cheaper than the state average. Reasonable housing prices (compared to the Virginia average) of and rental prices of are paired with economical goods and services and a range of free or low-cost recreational activities. The city's proactive economic development initiatives also ensure a steady stream of job opportunities, making it a smart choice for those prioritizing financial ease.

Richlands Population: 5,311 22% cheaper than Virginia average

Med. Home Value: $93,200 Med. Rent: $730 Med. Household Inc.: $28,970

Richlands comes in at #6 on our list of the cheapest cities in Virginia and is a haven for those seeking affordability without sacrificing convenience. The city is known for its discount shopping centers and budget-friendly dining options and has a cost of living that is 22% cheaper than Virginia. The city's local markets provide fresh produce and other groceries at reduced prices, while parks and community centers offer free entertainment and leisure. This city is perfect for enjoying a high quality of life at a low cost.

Big Stone Gap Population: 5,209 22% cheaper than Virginia average

Med. Home Value: $127,200 Med. Rent: $634 Med. Household Inc.: $39,919

With its cost-effective lifestyle, Big Stone Gap is an attractive destination for those looking to live affordably. The city boasts suitable housing costs, affordable healthcare, and a variety of budget-friendly dining options. The community is welcoming and vibrant, providing residents with a rich social life at a fraction of the cost. Median income levels come in at , which provides financial stability, purchasing power and increases the quality of life in the city.

Marion Population: 5,646 21% cheaper than Virginia average

Med. Home Value: $111,700 Med. Rent: $604 Med. Household Inc.: $29,562

A lower cost of living allows individuals to manage their expenses more effectively, reducing the risk of financial stress and debt. When essential costs such as housing, food, transportation, and healthcare are more affordable, people can achieve greater financial stability and resilience. Marion fits that mold and has a cost of living that is 21% cheaper than Virginia.

Bristol Population: 17,059 21% cheaper than Virginia average

Med. Home Value: $127,900 Med. Rent: $712 Med. Household Inc.: $39,679

Lower living costs can lead to a higher quality of life by making it easier for people to afford comfortable housing, nutritious food, and access to healthcare. It can also provide opportunities for better education, recreational activities, and community engagement, contributing to overall well-being. Bristol is one of the most affordable cities in Virginia, and has a cost of living that is 21% cheaper than the state average.

South Boston Population: 7,676 21% cheaper than Virginia average

Med. Home Value: $128,300 Med. Rent: $672 Med. Household Inc.: $40,087

With a cost of living that is 21% cheaper than Virginia, South Boston comes in at #10 on our list of the cheapest places to live in Virginia. Financial stress is a significant factor affecting mental and physical health. By lowering the cost of living, individuals can experience reduced anxiety related to meeting monthly expenses, thereby improving overall health and well-being. The ability to afford basic necessities without constant worry contributes to a more balanced and fulfilling life.

Full list of the cheapest places in Virginia

Rank	Location	Population	COL Index	Med. Home Value	Med. Household Inc.
1	Martinsville	12,646	82	$79,000	$36,166
2	Danville	40,668	83	$95,500	$37,147
3	Galax	6,402	84	$97,400	$35,184
4	Collinsville	7,019	84	$101,600	$40,710
5	Covington	5,653	84	$70,400	$41,024
6	Richlands	5,311	85	$93,200	$28,970
7	Big Stone Gap	5,209	85	$127,200	$39,919
8	Marion	5,646	86	$111,700	$29,562
9	Bristol	17,059	86	$127,900	$39,679
10	South Boston	7,676	86	$128,300	$40,087
11	Pulaski	8,744	88	$112,100	$50,417
12	Abingdon	7,936	91	$168,600	$46,653
13	Madison Heights	11,447	91	$142,300	$50,137
14	Buena Vista	6,477	91	$125,700	$36,634
15	Emporia	5,408	91	$121,600	$30,058
16	Wytheville	7,925	92	$162,500	$39,971
17	Roanoke	99,122	92	$134,900	$45,664
18	Bedford	6,599	92	$148,000	$40,263
19	Petersburg	30,791	92	$111,800	$43,029
20	Vinton	8,102	93	$147,900	$52,048
21	Hopewell	22,500	94	$126,100	$43,262
22	Montrose	7,639	94	$119,600	$38,295
23	Radford	17,833	95	$171,000	$34,576
24	Lynchburg	80,970	95	$162,900	$49,201
25	Ettrick	5,024	96	$133,400	$49,423
26	Bensley	6,044	96	$141,500	$39,152
27	Farmville	8,152	97	$194,000	$33,133
28	Bellwood	7,808	97	$142,100	$46,910
29	Sandston	6,833	97	$148,200	$49,479
30	Hollins	15,113	98	$178,200	$67,958
31	Timberlake	13,130	98	$187,700	$57,721
32	Highland Springs	15,000	98	$151,000	$47,404
33	East Highland Park	16,499	98	$153,500	$55,512
34	Staunton	24,660	98	$171,600	$52,292
35	Franklin	8,015	99	$179,200	$49,811
36	Christiansburg	22,482	99	$197,400	$63,372
37	Waynesboro	22,300	99	$183,600	$43,480
38	Portsmouth	94,961	101	$174,200	$53,213
39	Salem	25,290	101	$200,000	$63,411
40	Colonial Heights	17,283	101	$179,200	$60,522
41	Lakeside	12,749	102	$194,900	$55,104
42	Hampton	135,169	102	$188,600	$45,954
43	Hampton	135,169	102	$188,600	$61,377
44	Hampton	135,169	102	$188,600	$46,983
45	Hampton	135,169	102	$188,600	$68,724
46	Hampton	135,169	102	$188,600	$91,951
47	Hampton	135,169	102	$188,600	$70,832
48	Hampton	135,169	102	$188,600	$64,555
49	Hampton	135,169	102	$188,600	$55,770
50	Hampton	135,169	102	$188,600	$72,917

Methodology

To formulate the list of the cheapest places to live in Virginia, AreaVibes utilized comprehensive data from the Council for Community and Economic Research (C2ER) cost of living index. The report is released annually and offers a detailed comparison of living expenses across various urban areas. The data is meticulously gathered by over 300 independent researchers, ensuring a high level of accuracy and reliability. The C2ER index encompasses more than 60 goods and services, categorized into six essential areas that significantly impact the cost of living. These categories and their respective weightings in the index are as follows: goods and services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%), and utilities (10%).

Map of Cost of Living by State

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The map above is a great way to help you discover the most affordable states across the U.S. By highlighting states with the lowest cost of living, this map provides an in-depth look at where you can get the most value for your money. By visually representing this data, the map allows users to easily compare different regions and make informed decisions about potential relocations or investments. Additionally, it provides valuable insights into the economic conditions and lifestyle factors that influence these cost of living statistics. Whether you're planning a move, considering a new job, or simply curious about the economic landscape, this map is a useful resource for understanding and navigating the financial implications of living in different states.