Martinsville city, VA at a glance
Median household income
$46,727$3,894 per month · U.S. Census Bureau ACS 5-YearHow much rent can you afford in Martinsville city, VA?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
How much is rent in Martinsville city, VA? By bedroom, 2026
HUD's fiscal 2026 Fair Market Rents for Henry County-Martinsville city, VA HUD Nonmetro FMR Area, with the income each one takes if rent stays under 30% of it.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $749 | $8,988 | $29,960 | 19.2% |
| 1-Bedroom Apartment | $753 | $9,036 | $30,120 | 19.3% |
| 2-Bedroom ApartmentBenchmark | $914 | $10,968 | $36,560 | 23.5% |
| 3-Bedroom Home | $1,096 | $13,152 | $43,840 | 28.1% |
| 4-Bedroom Home | $1,282 | $15,384 | $51,280 | 32.9% |
Rent in Martinsville city, VA, with the wage each unit needs →
What a typical income covers in Martinsville city, VA
The 50/30/20 rule applied to the local median of $46,727 a year ($3,894 a month before tax).
What $46,727 leaves after Virginia taxes
Federal income tax, Social Security, Medicare and Virginia tax on the local median income. Change the salary to see yours.
Rent, jobs and pay in Virginia
Living in Martinsville city, VA: common questions
What is the median household income in Martinsville city, VA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Martinsville city, VA is $46,727 per year (approximately $3,894 per month).
What is the average rent in Martinsville city, VA?
The closest official figure is HUD's Fair Market Rent for 2026: $749 for a studio, $753 for one bedroom, $914 for two, $1,096 for three and $1,282 for four, utilities included.
It is not an average of listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so a new lease on a nicer place will usually cost more.
Is Martinsville city, VA expensive to live in?
Prices there run 1.1% above the U.S. average. BEA's regional price parity for Virginia is 101.1, where the U.S. is 100. Rent moves the number most: housing is where places differ, while goods cost about the same everywhere.
How much do you need to earn to comfortably afford rent in Martinsville city, VA?
To keep a $914 two-bedroom under 30% of gross income, a household needs about $36,560 a year, or $3,047 a month. That is 78% of what the typical household in Martinsville city, VA earns.
How much do you need to live comfortably in Martinsville city, VA?
On the local median income of $46,727 ($3,894 a month before tax), the 50/30/20 rule leaves $1,947 a month for needs like rent, utilities and groceries, $1,168 for everything else and $779 for savings or debt. A two-bedroom at $914 takes 47% of the needs share.
How much is the electric bill in Martinsville city, VA?
Homes in Virginia paid 17.2¢ per kWh on average (EIA). At 900 kWh a month, a typical use, that is about $155. Your bill depends mostly on heating and cooling.