The 24301 zip code in Pulaski tops our ranking of the most affordable places to live in Virginia.
Whether you're searching for affordable cities and towns to buy a home or the places with the lowest cost of living to rent, consider the following zip codes.
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Top 10 most affordable places to live in Virginia
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Pulaski 🥇 | 100.0 | $168,868 | $2,057 |
| 2 | Fredericksburg 🥈 | 98.9 | $427,620 | $1,798 |
| 3 | Big Stone Gap 🥉 | 96.7 | $137,427 | $2,057 |
| 4 | Martinsville | 94.2 | $133,379 | $921 |
| 5 | Bassett | 92.1 | $134,204 | $2,057 |
| 6 | Covington | 90.8 | $157,883 | $2,057 |
| 7 | Emporia | 88.0 | $158,072 | $2,057 |
| 8 | South Boston | 85.7 | $149,275 | $1,380 |
| 9 | Marion | 85.1 | $158,038 | $2,057 |
| 10 | Dublin | 84.7 | $238,507 | $2,057 |
What these affordable cities and towns have in common
The 10 zip codes we ranked share a common trait: a low cost of living relative to the Virginia median.
Median home values, rental costs, and property taxes generally sit below the state averages, while household incomes remain strong enough to keep home affordability ratios manageable. Below, we look at each market in detail.
1. Pulaski
Here's why the 24301 zip code in Pulaski is Virginia's most affordable place to live.
🔎 Key data about Pulaski
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $168,868[1] | No. 10 | -$344,204 |
| Home affordability ratio | 2.9 | No. 5 | -1.7 |
| Home value five-year change | 14.4%[2] | No. 13 | -12.5% |
| Home value one-year forecast | 0.0%[3] | No. 109 | 0.1% |
| Rental costs | $2,057[4] | No. 113 | $0 |
| Rent affordability ratio | 1.86% | No. 82 | 0.0% |
| Median household income | $57,718[5] | No. 211 | -$52,901 |
| Property taxes | $1,136[6] | No. 18 | -$2,891 |
| Energy costs | $0.09 kWh[7] | No. 128 | $0.00 |
Pulaski's 24301 zip code is the cheapest place to live in Virginia, leading the 238 markets we evaluated.
The median home value is $168,868, making it the 10th-cheapest housing market in the state. Forecasts project a 0.0% change in home values in the next year. Rent in the zip code averages $2,057 per month, which is the 82nd cheapest amount in Virginia.
The median property tax for homeowners in Pulaski is $1,136 per household, the No. 18 ranked market in Virginia.
Residents pay $0.09 per kWh of electricity, which ranks No. 128 among Virginia markets.
📈 Thinking about buying in Virginia? See our complete housing market outlook for the data, trends, and timing insights Virginia buyers need to know.
2. Fredericksburg
The 22553 zip code is the 2nd-cheapest place to live in Virginia.
🔎 Key data about Fredericksburg
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.9 | No. 2 | N/A |
| Median home value | $427,620[1] | No. 113 | -$85,452 |
| Home affordability ratio | 3.1 | No. 9 | -1.5 |
| Home value five-year change | 2.0%[2] | No. 1 | -24.8% |
| Home value one-year forecast | -0.8%[3] | No. 90 | -0.7% |
| Rental costs | $1,798[4] | No. 71 | -$260 |
| Rent affordability ratio | 1.32% | No. 7 | -0.5% |
| Median household income | $135,856[5] | No. 60 | $25,237 |
| Property taxes | $2,959[6] | No. 123 | -$1,068 |
| Energy costs | $0.10 kWh[7] | No. 188 | $0.01 |
Fredericksburg's 22553 zip code has a median home value of $427,620, which is the 113th-cheapest housing market in Virginia. You can rent for an average of $1,798 per month. That's the 71st-cheapest price in the state.
The average household income in the zip code is $135,856, which ranks 60th-highest in the state.
Homeowners in Fredericksburg pay a median property tax of $2,959 per year, making it the 123rd-most affordable market in Virginia.
Fredericksburg ranks No. 188 among Virginia energy markets. You'll pay $0.10 per kWh of electricity.
3. Big Stone Gap
The 3rd-least-expensive place to live in Virginia is Big Stone Gap's 24219 zip code.
🔎 Key data about Big Stone Gap
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.7 | No. 3 | N/A |
| Median home value | $137,427[1] | No. 3 | -$375,645 |
| Home affordability ratio | 2.5 | No. 1 | -2.2 |
| Home value five-year change | 32.7%[2] | No. 152 | 5.9% |
| Home value one-year forecast | -0.1%[3] | No. 108 | 0.0% |
| Rental costs | $2,057[4] | No. 113 | $0 |
| Rent affordability ratio | 1.86% | No. 82 | 0.0% |
| Median household income | $55,252[5] | No. 216 | -$55,367 |
| Property taxes | $862[6] | No. 5 | -$3,165 |
| Energy costs | $0.11 kWh[7] | No. 214 | $0.02 |
The No. 3 cheapest housing market in Virginia is Big Stone Gap's 24219 zip code, with a median home value of $137,427. Rents in the market average $2,057 per month, making it the 113th-most affordable rental market in the state.
The median property tax for households in Big Stone Gap is $862, which makes it the 5th-cheapest place in Virginia. Big Stone Gap ranks No. 214 among Virginia markets by energy costs. Residents pay $0.11 per kWh of electricity.
4. Martinsville
The 24112 zip code in Martinsville comes in at No. 4 on our list of the cheapest places to live in Virginia.
🔎 Key data about Martinsville
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 94.2 | No. 4 | N/A |
| Median home value | $133,379[1] | No. 1 | -$379,692 |
| Home affordability ratio | 2.7 | No. 2 | -1.9 |
| Home value five-year change | 43.8%[2] | No. 221 | 16.9% |
| Home value one-year forecast | 0.5%[3] | No. 163 | 0.6% |
| Rental costs | $921[4] | No. 1 | -$1,137 |
| Rent affordability ratio | 1.89% | No. 140 | 0.0% |
| Median household income | $48,770[5] | No. 229 | -$61,849 |
| Property taxes | $695[6] | No. 2 | -$3,332 |
| Energy costs | $0.09 kWh[7] | No. 128 | $0.00 |
The No. 1 cheapest housing market in Virginia is Martinsville's 24112 zip code, where the median home value is $133,379. Renters here pay an average of $921 per month.
When it comes to energy costs, Martinsville ranks 128th among Virginia markets. Residents pay $0.09 per kWh of electricity.
The median property tax for households in the zip code is $695, which makes it the 2nd-cheapest market in Virginia.
5. Bassett
The 24055 zip code in Bassett ranks No. 5 among Virginia's most affordable places to live.
🔎 Key data about Bassett
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.1 | No. 5 | N/A |
| Median home value | $134,204[1] | No. 2 | -$378,867 |
| Home affordability ratio | 3.0 | No. 6 | -1.7 |
| Home value five-year change | 31.2%[2] | No. 126 | 4.4% |
| Home value one-year forecast | 0.5%[3] | No. 163 | 0.6% |
| Rental costs | $2,057[4] | No. 113 | $0 |
| Rent affordability ratio | 1.86% | No. 82 | 0.0% |
| Median household income | $45,227[5] | No. 234 | -$65,392 |
| Property taxes | $587[6] | No. 1 | -$3,440 |
| Energy costs | $0.09 kWh[7] | No. 128 | $0.00 |
Bassett's 24055 zip code has a median home value of $134,204, the 2nd-cheapest housing market in the state. Forecasts project a 0.5% change in home values in the next year.
The median property tax per household in Bassett is $587. It's the 1st-cheapest market by tax rate in Virginia.
6. Covington
The No. 6 most affordable city in Virginia is the 24426 zip code.
🔎 Key data about Covington
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.8 | No. 6 | N/A |
| Median home value | $157,883[1] | No. 6 | -$355,189 |
| Home affordability ratio | 2.9 | No. 3 | -1.8 |
| Home value five-year change | 42.2%[2] | No. 216 | 15.4% |
| Home value one-year forecast | -0.1%[3] | No. 93 | 0.0% |
| Rental costs | $2,057[4] | No. 113 | $0 |
| Rent affordability ratio | 1.86% | No. 82 | 0.0% |
| Median household income | $55,138[5] | No. 217 | -$55,481 |
| Property taxes | $968[6] | No. 12 | -$3,059 |
| Energy costs | $0.07 kWh[7] | No. 1 | -$0.01 |
The back half of our top 10 kicks off with Covington's 24426 zip code, which has the 6th-cheapest home values in Virginia. The median home value is $157,883. Rents average $2,057 per month, making it the 113th-most affordable rental market in the state.
Residents pay $0.07 per kWh of electricity. It's the 1st-cheapest energy market.
7. Emporia
Emporia's 23847 zip code is the 7th-cheapest place to live in Virginia.
🔎 Key data about Emporia
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 88.0 | No. 7 | N/A |
| Median home value | $158,072[1] | No. 8 | -$355,000 |
| Home affordability ratio | 3.1 | No. 7 | -1.5 |
| Home value five-year change | 43.4%[2] | No. 220 | 16.5% |
| Home value one-year forecast | -0.1%[3] | No. 93 | 0.0% |
| Rental costs | $2,057[4] | No. 113 | $0 |
| Rent affordability ratio | 1.86% | No. 82 | 0.0% |
| Median household income | $51,168[5] | No. 224 | -$59,451 |
| Property taxes | $932[6] | No. 10 | -$3,095 |
| Energy costs | $0.10 kWh[7] | No. 186 | $0.01 |
You'll find the 8th-cheapest home values in Virginia in Emporia's 23847 zip code. The median value: $158,072. Renters in Emporia pay an average of $2,057 per month.
Homeowners in Emporia pay a median property tax of $932 per year, which is Virginia's 10th-most affordable market.
The average household income is $51,168, which ranks 224th-highest in the state.
8. South Boston
The 8th-least-expensive place to live in Virginia is South Boston's 24592 zip code.
🔎 Key data about South Boston
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.7 | No. 8 | N/A |
| Median home value | $149,275[1] | No. 4 | -$363,796 |
| Home affordability ratio | 2.9 | No. 4 | -1.7 |
| Home value five-year change | 35.0%[2] | No. 177 | 8.1% |
| Home value one-year forecast | -0.1%[3] | No. 93 | 0.0% |
| Rental costs | $1,380[4] | No. 18 | -$677 |
| Rent affordability ratio | 2.68% | No. 218 | 0.8% |
| Median household income | $51,547[5] | No. 222 | -$59,072 |
| Property taxes | $752[6] | No. 3 | -$3,275 |
| Energy costs | $0.10 kWh[7] | No. 186 | $0.01 |
The 4th-cheapest housing market in Virginia is South Boston's 24592 zip code, with a median home value of $149,275. Renters pay an average of $1,380 per month, the No. 18 rental market in the state.
The median property tax for households in South Boston is $752, which makes it the 3rd-cheapest place in Virginia. The average household income of $51,547 ranks 222nd.
9. Marion
Marion's 24354 zip code is one of Virginia's most affordable towns, sneaking into the top ten of our rankings.
🔎 Key data about Marion
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.1 | No. 9 | N/A |
| Median home value | $158,038[1] | No. 7 | -$355,033 |
| Home affordability ratio | 3.6 | No. 14 | -1.1 |
| Home value five-year change | 35.9%[2] | No. 190 | 9.1% |
| Home value one-year forecast | -0.1%[3] | No. 93 | 0.0% |
| Rental costs | $2,057[4] | No. 113 | $0 |
| Rent affordability ratio | 1.86% | No. 82 | 0.0% |
| Median household income | $44,502[5] | No. 236 | -$66,117 |
| Property taxes | $943[6] | No. 11 | -$3,084 |
| Energy costs | $0.09 kWh[7] | No. 128 | $0.00 |
The 7th-cheapest housing market in Virginia is Marion's 24354 zip code, where the median home value is $158,038. Renters pay an average of $2,057 per month. It's the state's 113th-cheapest rental market.
The median property tax for households within the zip code is $943, which makes it the 11th-cheapest property tax rate in Virginia.
10. Dublin
The final spot on our list of the most affordable places to live in Virginia goes to the 24084 zip code in Dublin.
🔎 Key data about Dublin
| Data point | Value | Rank (out of 238 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 84.7 | No. 10 | N/A |
| Median home value | $238,507[1] | No. 25 | -$274,564 |
| Home affordability ratio | 3.8 | No. 28 | -0.9 |
| Home value five-year change | 26.2%[2] | No. 68 | -0.7% |
| Home value one-year forecast | 0.0%[3] | No. 109 | 0.1% |
| Rental costs | $2,057[4] | No. 113 | $0 |
| Rent affordability ratio | 1.86% | No. 82 | 0.0% |
| Median household income | $63,146[5] | No. 198 | -$47,473 |
| Property taxes | $1,220[6] | No. 21 | -$2,807 |
| Energy costs | $0.09 kWh[7] | No. 128 | $0.00 |
Rounding out our top 10 is Dublin's 24084 zip code, with the 25th-cheapest home values in Virginia.
The median home value is $238,507. Rent in the market costs $2,057 per month on average.
The median property tax for households in Dublin is $1,220, which is the 21st-cheapest property tax rate in the state.
Dublin ranks No. 128 among Virginia markets by energy costs, with households paying $0.09 per kWh of electricity.
What questions about these cities should I ask local agents?
Once you've found a town you're interested in, you'll want to ask a local agent for details our rankings can't capture. Start with these four questions:
- What neighborhoods inside this zip code have the best resale value?
- What's the rental market like right now?
- Are there local property tax exemptions or homestead programs you'd qualify for?
- What are the most common surprises buyers run into here?
🏡 Need a local agent? We can connect you with an expert who knows the market.
Frequently asked questions about the least expensive places to live in Virginia
Based on Clever's Affordability Score, the 24301 zip code in Pulaski is the cheapest place to live in Virginia.
The median home value is $168,868, and the median household income is $57,718, giving Pulaski a home affordability ratio of 2.9, meaning a typical home costs about that many times the median annual income.
See our Affordability Score methodology and the full ranking of the 10 cheapest places to live in Virginia.
The median home value in Virginia is $513,072.
See the rankings above for how individual cities compare to these state-wide figures.
Virginia is currently a mild seller's market, according to Clever's Market Heat Index.
The index reflects the balance between buyer demand and seller supply, which affects how much negotiating power buyers and sellers have in any given market.
Markets also vary by city, county, and neighborhood. It's always good to check with a local real estate agent to understand the dynamics of a given local market.
The median amount homeowners pay in property taxes in Virginia is $4,027 per year.
Property taxes are a key part of the overall cost of living, and they vary significantly by location. The per-city tax figures in the rankings above show how each of the 10 cheapest places stacks up against the Virginia median.
📍 The 10 cheapest places to live in your region
How we ranked the most affordable cities and towns in Virginia
We evaluated 238 zip codes in Virginia with a population over 10,000 on home values, rental costs, energy rates, property taxes, and five other affordability indicators. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Virginia, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Virginia average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Virginia average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Why you should trust us
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Our team is committed to making home purchasing more transparent by educating buyers and sellers through guides like this one. Our writers, editors, and industry-leading researchers strive to provide readers with the most up-to-date, accurate, and useful information.
Our research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more publications.
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