Martinsville, VA Cost Of Living
Cost Of Living In Martinsville, VA Summary
Cost of living in Martinsville research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Martinsville is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Virginia, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Martinsville is 81, with 100 being the average.
The cost of living index in Martinsville is 0.8x lower than the national average.
Martinsville ranks as the #1 cheapest in Virginia out of 190.
Martinsville ranks as the #158 cheapest out of 6,489 in the US.
The median home value in Martinsville is $133,734.
The median income in Martinsville is $42,434.
Table Of Contents
Martinsville's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Martinsville, VA?
According to the most recent data on the cost of living, Martinsville has an overall cost of living index of 81, which is 0.8x lower than the national index of 100.
Compared to Virginia, Martinsville has a cost of living index that's 0.7x lower than Virginia's index of 110.
The standard of living in Martinsville ranks as #1 most affordable out of the 190 places we measured in Virginia. By definition, that implies Martinsville ranks as the #189 most expensive place in the Old Dominion.
For more reading on life in Martinsville, check out:
In Virginia
In America
Martinsville Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Martinsville. Here is how it fairs on each of the criteria:
The Services index in Martinsville is 97.
The Groceries index in Martinsville is 95.
The Health index in Martinsville is 98.
The Housing index in Martinsville is 51.
The Transportation index in Martinsville is 86.
The Utilities index in Martinsville is 101.
| Living Expense | Martinsville | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 81 | 110 | 100 | |
| Services | 97 | 101 | 100 | |
| Groceries | 95 | 99 | 100 | |
| Health | 98 | 98 | 100 | |
| Housing | 51 | 130 | 100 | |
| Transportation | 86 | 94 | 100 | |
| Utilities | 101 | 104 | 100 | |
Martinsville, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Martinsville is $133,734.
The Median Rent in Martinsville is $784.
The Median Income in Martinsville is $42,434.
The Home Value To Income in Martinsville is 3.2x.
The Rent To Monthly Income in Martinsville is 0.22x.
| Statistic | Martinsville | Virginia | United States |
|---|---|---|---|
| Median Home Value | $133,734 | $404,962 | $303,400 |
| Median Rent | $784 | $1,514 | $1,348 |
| Median Income | $42,434 | $90,974 | $78,538 |
| Home Value To Income | 3.2x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.22x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Martinsville, VA Costs By Category
Detailed Martinsville Services Costs Vs. Virginia
| Item | Martinsville | Virginia |
|---|---|---|
| Shampoo | $1.3 | $1.28 |
| Movie | $11.0 | $12.13 |
| Bowling | $11.83 | $18 |
| Haircut | $14.0 | $24.26 |
| Beauty Salon | $34.81 | $45.56 |
Detailed Martinsville Groceries Costs Vs. Virginia
| Item | Martinsville | Virginia |
|---|---|---|
| Ground Beef | $6.12 | $5.84 |
| Fried Chicken | $1.37 | $1.57 |
| Milk | $4.64 | $4.67 |
| Potatoes | $4.99 | $4.93 |
| Pizza | $13.42 | $12.09 |
| Beer | $10.22 | $10.41 |
| Toothpaste | $3.68 | $3.7 |
Detailed Martinsville Health Costs Vs. Virginia
| Item | Martinsville | Virginia |
|---|---|---|
| Optometrist | $124.44 | $125.68 |
| Doctor | $115.83 | $135.78 |
| Dentist | $127.61 | $113.29 |
Detailed Martinsville Transportation Costs Vs. Virginia
| Item | Martinsville | Virginia |
|---|---|---|
| Gasoline | $3.25 | $3.46 |
| Tire Balancing | $48.39 | $59.92 |
Detailed Martinsville Utilities Costs Vs. Virginia
| Item | Martinsville | Virginia |
|---|---|---|
| All Electricity | $189.18 | $193.99 |
| Phone | $184.83 | $192.25 |
Martinsville SnackAbility
/10
Cost Of Living In Cities Around Martinsville
The cost of living varies in the cities and towns around Martinsville. Here's a quick look at the cost of living in the most populous nearby places:
Greensboro, NC has a cost of living index of 91, 1.1x Martinsville.
Winston-Salem, NC has a cost of living index of 93, 1.1x Martinsville.
Kernersville, NC has a cost of living index of 102, 1.3x Martinsville.
| City | Population | Cost Of Living | Vs. Martinsville |
|---|---|---|---|
| Greensboro, NC | 298,564 | 91 | 1.1x |
| Winston-Salem, NC | 250,887 | 93 | 1.1x |
| Kernersville, NC | 27,439 | 102 | 1.3x |
| Cave Spring, VA | 26,014 | 106 | 1.3x |
| Elon, NC | 11,325 | 113 | 1.4x |
| Summerfield, NC | 11,031 | 121 | 1.5x |
| Gibsonville, NC | 9,289 | 94 | 1.2x |
| Oak Ridge, NC | 7,660 | 135 | 1.7x |
| Collinsville, VA | 7,645 | 84 | 1.0x |
| King, NC | 7,345 | 97 | 1.2x |
