Martinsville City, VA real estate

Market data, tax and rent figures from the 2024 Census survey.

Median home value

$98,400Median home value · Census

Property tax rate

0.77%Above state avg 0.73%Median bill $760/yr · Census

Median rent

$8082-bed $781Per month · Census

30-yr mortgage rate

7.24%Freddie Mac weekly average

What the numbers say

Martinsville City, VA real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in Martinsville City pay a median of $760 a year in property taxes on a median home value of $98,400, an effective rate of about 0.77%. The Virginia average is 0.73%, which makes Martinsville City the #102 lowest-tax of 133 counties in the state with published tax data.

Renters pay a median of $808 a month, and $781 for a two-bedroom. At today's prices a typical home costs about 10 times a year's rent, which generally favors buying.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $98,000 home here comes to about $641 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $27,000 a year (the median household here earns $46,727).

Monthly payment on a typical home

$641/mo
  • Principal & interest$536
  • Property tax$63
  • Insurance (est.)$41

$98,000 home · 20% down · 7.24% 30-year fixed

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Rents in Martinsville City by bedrooms

1 bedroom$64756% below state
2 bedrooms$78147% below state
3 bedrooms$88248% below state
4 bedrooms$94956% below state

Median gross rent (rent plus utilities), US Census American Community Survey 2024 5-year estimates.

Selling here?See what you'd walk away with after commissions and closing costs.Seller net sheet → Buying here?Monthly payment with Martinsville City's real property tax rate.Mortgage calculator → Agent here?Find out how many listing appointments you need to hit your income goal.Agent income calculator →

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Sources: Realtor.com housing inventory (monthly) and Freddie Mac Primary Mortgage Market Survey (weekly), via FRED, Federal Reserve Bank of St. Louis; US Census Bureau American Community Survey 5-year estimates (property taxes, home values, rents, income). Insurance is an estimate. Medians for the whole county; individual homes vary. For information only.