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 $57,041
43 Ashland 7,819 103 $195,700 $53,475
44 Stuarts Draft 11,380 103 $200,200 $63,679
45 Newport News 179,582 103 $194,700 $54,511
46 Meadowbrook 19,675 104 $192,500 $65,065
47 Woodstock 5,247 104 $220,300 $64,188
48 Lexington 7,205 104 $235,400 $50,714
49 Orange 5,024 104 $217,200 $55,613
50 Cave Spring 25,193 104 $224,700 $68,225

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

  • Well Below nat. avg.
  • Below nat. avg.
  • Similar to nat. avg.
  • Above nat. avg.
  • Well above nat. avg.

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.