Martinsville, VA home prices
Typical home $134,798 · -4.6% in a year · income needed $36,300
The Martinsville, VA metro area ranks 843 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed -4.6% in a year and +17.2% over five years. With 20% down at 7.11%, the typical home costs about $846 a month including 0.47% property tax (Henry County rate).
Mortgage on the typical Martinsville home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $26,960 | $107,838 | $725 | $0 | $120 | $846 | $36,300 |
| 10% down | $13,480 | $121,318 | $816 | $51 | $120 | $987 | $42,300 |
| 5% down | $6,740 | $128,058 | $861 | $53 | $120 | $1,035 | $44,400 |
| 3.5% down (FHA) | $4,718 | $132,356 | $890 | $60 | $120 | $1,070 | $45,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.47% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Martinsville area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Henry County, VA | $141,597 | -4.1% | 0.47% |
| Martinsville City, VA | $110,817 | -5.9% | 0.77% |
What can you afford in Virginia on your salary? · Virginia home prices · Salaries in Virginia
Frequently asked questions
How much is a house in Martinsville?
The typical home in the Martinsville, VA metro area is worth $134,798 (Zillow, September 2026).
What salary do you need to buy a house in Martinsville?
About $36,300 a year for the typical home with 20% down at 7.11%.