10 Cheapest Places to Live in Virginia

10 Cheapest Places to Live in Virginia (2024)

1. Richlands
2. Martinsville
3. Bluefield
4. Big Stone Gap
5. Covington
6. Danville
7. Pulaski
8. Galax
9. Bristol
10. Hopewell

1. Richlands

Median Home Price: $101,500

Average Rent (one bedroom): $660

Cost of Living Compared to State Average: 35.4% lower than the Virginia average

With a median home price of $101,500, and the average one bedroom apartment only costing $660 per month, Richlands is the cheapest place to live in Virignia. Nestled in the southwestern part of Virginia, Richlands is surrounded by the picturesque Appalachian Mountains.

Richlands is not only an affordable place to live, but it also provides residents unparalleled access to the outdoors and benefits from a welcoming, close-knit community. Richlands is a quintessential representation of the charm found in many small towns throughout the Appalachian region.

2. Martinsville

Median Home Price: $117,300

Average Rent (one bedroom): $725

Cost of Living Compared to State Average: 35.1% lower than the Virginia average

Another one of the cheapest places to live in Virginia is Martinsville, where median home prices are only $117,300. Located roughly 50 miles from Roanoke, this city is best known for its wealth of outdoor adventures. Martinsville is located along several trout-filled rivers, glistening lakes, and gently sloping mountain ranges, all of which add to the area’s natural beauty.

This area is also perfect for those who enjoy NASCAR racing, as the Martinsville Speedway is right next door. Rents in this area are also affordable with the average one bedroom only costing $725 per month, ensuring Martinsville has the second lowest cost of living in Virginia.

3. Bluefield

Median Home Price: $123,000

Average Rent (one bedroom): $730

Cost of Living Compared to State Average: 33.2% lower than the Virginia average

Sitting on the West Virginia border is Bluefield, another one of Virginia’s cheapest places to live. This charming city is a popular tourist destination, and its downtown area is home to an abundance of local shops, restaurants, theaters, and city parks. Additionally, Bluefield sits at a relatively high altitude, which keeps its local climate cool and enjoyable, rarely ever rising past 90 degrees.

Local attractions here include the East River Mountain Overlook, the Bluefield Blues Festival, and the local Holiday of Lights. Home prices in this area also stay low, with the average sale price resting at about $123,000. 

4. Big Stone Gap

Median Home Price: $126,900

Average Rent (one bedroom): $750

Cost of Living Compared to State Average: 30.9% lower than the Virginia average

Another one of the most affordable places to live in Virginia is Big Stone Gap, which is located in the state’s southwestern corner. While the city was historically known for its booming coal-mining industry, it is now loved for its stunning scenery and outdoor recreation. The city provides residents quick access to local mountain ranges, state parks, and walking trails.

Other attractions include the Jefferson National Forest, Southwest Virginia Museum Historical Park, and the Natural Tunnel State Park. Home prices in Big Stone Gap average close to $126,900.

5. Covington

Median Home Price: $131,000

Average Rent (one bedroom): $785

Cost of Living Compared to State Average: 30.6% lower than the Virginia average

In addition to being one of the cheapest cities in Virginia, Covington is also one of the busiest. This city is home to a bustling paper industry and produces one of the largest amounts of bleached paper on the East Coast. Other booming industries in this area include Health Care & Social Assistance, and Retail Trade.

In addition to its dynamic economy, Covington sits within close proximity to several local attractions, such as Falling Springs and Humpback Bridge. With home prices averaging $131,000, this area is perfect for those who prefer an affordable city with enormous potential.

6. Danville

Median Home Price: $137,300

Average Rent (one bedroom): $885

Cost of Living Compared to State Average: 29.5% lower than the Virginia average

Danville is another one of the most affordable places to live in Virginia. Home to an abundance of antique architecture, this city is perfect for those who prefer an area of rich historical significance. Other enjoyable family-friendly features include local restaurants, ice cream shops, historical landmarks, museums, and riverside walking trails.

With home prices middling around $137,300, Danville is certain to impress those who prefer a quiet area with an affordable price tag. 

7. Pulaski

Median Home Price: $148,000

Average Rent (one bedroom): $900

Cost of Living Compared to State Average: 27.3% lower than the Virginia average

Pulaski is another one of Virginia’s cheapest places to live. A rural city nestled in the Blue Ridge Mountains, Pulaski is a great place to find stunning mountain views at a low cost. The surrounding area is full of gently rolling hills, sloping pastures, and gorgeous mountain sunrises.

Residents of this picturesque town can also find an abundance of outdoor amenities, which include golfing, tubing, kayaking, and fishing. Home prices here average around $148,000, making Pulaski an affordable area for those who prefer a more secluded place to connect with nature. 

8. Galax

Median Home Price: $162,600

Average Rent (one bedroom): $910

Cost of Living Compared to State Average: 26.6% lower than the Virginia average

Galax is a cheap area close to the North Carolina border. Lovingly dubbed the “Gateway to the Blue Ridge Mountains,” Galax is home to some of the best views the hills have to offer. A particularly beautiful autumn destination, this city comes alive as the seasons change – though the charming downtown area remains busy throughout the year.

The city center provides residents with plenty of opportunities for both shopping and eating. Other local attractions include the Rex Theater, Galax Farmers Market, and Old Cranks Motorcar Museum. Home prices here average at $162,600, keeping Galax both beautiful and affordable. 

9. Bristol

Median Home Price: $192,500

Average Rent (one bedroom): $970

Cost of Living Compared to State Average: 24.1% lower than the Virginia average

Bristol is the cheapest city on the Virginia-Tennessee border and is known as the “Birthplace of Country Music.” Residents of this area can enjoy a small-town atmosphere while remaining close to big-city amenities, such as restaurants, breweries, cafes, and local shops. The surrounding area is also home to natural attractions such as Steele Creek Park and the Blue Ridge Mountains. With home prices averaging at $192,500, Bristol is perfect for those who want a little bit of everything. 

10. Hopewell

Median Home Price: $208,000

Average Rent (one bedroom): $995

Cost of Living Compared to State Average: 23.3% lower than the Virginia average

Hopewell is an affordable place to live on Virginia’s east coast. This city is located at the convergence of the James and Appomattox Rivers, which has helped it remain relevant throughout Virginia’s long history. The local real estate market is filled with century-old homes, each possessing unique character and charm. While most of these houses have been renovated, they still retain their antique features and are perfect for those interested in owning truly historical homes. Home prices in Hopewell average around $208,000, while the average one-bedroom apartment is only $995, keeping it both charming and affordable. 

Cheapest Places to Live in Virginia Compared