Finding a home that meets your needs without breaking the bank can be a serious challenge. State-wide, Virginia has a median home value of $282,800. When you add in maintenance costs and property taxes, it can be difficult for many to buy and own a home.
That's why we've compiled a list of affordable cities in Virginia to help you find a new place to live. All of these places are more affordable than average, meaning you can get more bang for your buck.
Looking for the most affordable places in Virginia is a start, but you'll save even more money by working with a great agent.
The top Virginia real estate agents know the local market and where to find pockets of more affordable homes. They can also help negotiate a better price when you do find your dream home.
At Clever Real Estate, we can match you with agents in any area you're interested in — even multiple areas at the same time. You can interview as many agents as you like until you find the perfect place to call home — all at no cost or obligation to you.
Most affordable cities in Virginia
Whether you're looking for a quiet small town or a trendy suburban neighborhood, it's possible to locate pockets of affordability throughout Virginia.
Here are our top picks for Virginia residents on a budget:
1. Bluefield
Located in Appalachia on the West Virginia border, Bluefield is the twin city of Bluefield, West Virginia. Bluefield has a population of around 5,500 and is the largest town in Tazewell County. The greater Bluefield micropolitan area has almost 110,000 people. A median home in Bluefield costs $89,200, a 2.8% increase from last year.
Bluefield has grown a lot since the early 1990s. The area now has a number of strip malls, a medical center, and a Super Wal-Mart.
Bluefield is home to Bowen Field, where minor league baseball team Bluefield Blue Jays play their home games. It's also home to Bluefield College, which has soccer, basketball, football, and baseball teams.
2. Newport News
If you like affordable beach living, you'll love Newport News, a wonderful city of around 183,000 people in Virginia Beach, a popular and lively coastal area. The median home value in Newport News is $180,200, 4.0% higher than one year ago.
Newport News is at the southeastern tip of the Virginia Peninsula. It's located on the northern shore of the James River and contains miles of waterfront area, from Skiffes Creek to the Newport News Point on the harbor of Hampton Roads. Newport News is also part of the Hampton Roads metro area.
Newport News is home to a number of museums and cultural centers, including the Mariners' Museum, Virginia War Museum, Peninsula Fine Arts Center, U.S. Army Transportation Museum, and the Ferguson Center for the Arts.
Most of the Virginia Beach area is surprisingly affordable, and Newport News is just our favorite. People interested in Newport News would also do well to consider Norfolk and Virginia Beach. The area has a low unemployment rate, and good economy, thanks to its location and port. Many local residents are employed at Newport News Shipbuilding, a joint U.S. Air Force-U.S. Army installation at Joint Base Langley-Eustis.
Even after you've found a more affordable place to live in Virginia, moving there can be expensive. By working with a Clever Partner Agent, you'll have an expert in your corner and you may be able to take advantage of Clever Cash Back.
When you buy a home with a Clever agent, you might be eligible for cash back to use on anything you want. For the average home value of $282,800, you'd pocket $1,414 to help you move (or splurge on a great housewarming gift for yourself).
» SAVE: Learn more about what you can save with Clever Cash Back!
3. Bristol
Bristol, Virginia is the twin city of Bristol, Tennessee, straddling the state line. Bristol is part of the Kingsport-Bristol-Bristol Metro area, commonly called the “Tri-Cities” region.
The state line runs down the middle of State Street. There are 18,000 people on the Virginia side of Bristol and another 27,000 people on the Tennessee side. The median home value in Bristol is $110,200.
A resolution passed by Congress in 1998 declared Bristol the “Birthplace of Country Music.” The Birthplace of Country Music Museum is located in the city.
On the Tennessee side of Bristol, the city is home to the Bristol Motor Speedway, aka the “world's fastest half mile.” The speedway hosts two races per year on the NASCAR Xfinity Series circuit, two races per year on the NASCAR Sprint Cup circuit, and one race per year on the Camping World Truck Series circuit, in addition to miscellaneous racing events.
4. Roanoke
Roanoke is the largest city in Southwest Virginia. The city has a population of nearly 100,000 and the metro area has a population of nearly 310,000. Roanoke is the cultural and central hub of most of Southwest Virginia and parts of Southern West Virginia.
The median home value in Roanoke is $156,600, 6.0% higher than one year ago. Homes in the city are cheaper than homes in the surrounding suburbs.
The Downtown Roanoke EventZone is home to a number of festivals and activities. Some of Roanoke's annual events include the Chili Cook-Off, Festival in the Park, Big Lick Blues Festival, Strawberry Festival, and Local Colors Festival.
Center in the Square has been located in Downtown Roanoke since 1983. A converted warehouse, the Center houses the History Museum of Western Virginia, the Science Museum of Western Virginia, and the Hopkins Planetarium.
5. Lynchburg
Lynchburg is a city of just over 80,000, located along the banks of the James River in the Blue Ridge Mountains. Also called the “City of Seven Hills” and the “Hill City,” Lynchburg is at the center of a wider metropolitan area in Central Virginia.
The median home value in Lynchburg is $146,900, 4.2% higher than one year ago. Homes in the city of Lynchburg cost slightly less than homes in the Lynchburg Metro area.
Lynchburg is home to several colleges and universities and close to Roanoke, Charlottesville, and Danville. It's a cultural hub for Central Virginia and some of its many attractions include the Lynchburg Symphony Orchestra, the Academy of Fine Arts, the Renaissance Theatre, the Lynchburg Art Club, and Opera on the James.
Local residents looking for something to do also have a number of historic and educational options to choose from. Lynchburg is the site of Amazement Square, Appomattox Courthouse (the site of the Confederate Army's surrender to the Union Army), Nature Zone, and the Old City Cemetery Museums & Arboretum.
If the great outdoors is more your thing, Lynchburg has that, too! Take a 1.7 mile hike out to Crabtree Falls, the largest waterfall east of the Mississippi, and explore the Trails of Blackwater Creek, the Peaks of Otter, and Smith Mountain Lake.
The benefits of a great real estate agent
If you're just researching affordable places to live, you might wonder why you need a real estate agent. They're the ones that help you once you've already decided on a house, right?
Not necessarily. The truth is, it's never too early to start looking for an agent. In fact, talking to a realtor early on in the process can help you narrow down your options much faster than doing research on your own.
A real estate agent's job is to know everything about their local area. They'll find the best deals in desirable neighborhoods — and might just help you snag your dream home for an affordable price. Let a Clever agent help you discover your options today — all while you enjoy cash back!
Frequently asked questions about affordable places to live in Virginia
In addition to shopping in some of the most affordable areas, you'll want to work with an experienced real estate agent. They can find you hidden gems at low price points. A good agent can also negotiate like a pro to get you a lower sale price and more buyer incentives. You may also be able to take advantage of home buyer rebates.
We recommend using the 28/36 rule to know how much house you can afford. This means your housing expenses shouldn't exceed 28% of your income, and all of your total debt shouldn't exceed 36%. Learn more about how to calculate your home buying budget.