Counties / Virginia / Martinsville city

Martinsville city, VA

FIPS 51690 · population 13,658 · part of Martinsville, VA

$120k
Zillow home value · 2026-06
The numbers

What this county costs and earns

Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.

Zillow home value
$120k
▼ 2.7% year over year
Zillow ZHVI · direct
Median asking rent
$950
n/a year over year
Zillow ZORI · direct
Gross yield
9.5%
annual rent ÷ price, before costs
derived: rent × 12 ÷ price ✓
HUD 2-bed standard
$914
market rent is 1.04x the standard
HUD Fair Market Rent · direct
Independent price check

Do two methods point the same way?

Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.

Both annual signals move in the same direction
FHFA five-year cumulative+74.0%not annualized · through 2025
0%ZILLOW ZHVI2026-06−2.7%FHFA HPI2025−0.7%
Annual changes use different methods and may use different periods. The comparison checks direction and magnitude; it does not create a blended estimate. Zillow county ZHVI pulled 2026-07-26; FHFA annual county HPI pulled 2026-07-28.
Owner-reported value$98k
Surveyed gross rent$808
Rent burden 30%+39.7%
Median year built1958
Housing composition

Who occupies the stock—and what it is

ACS 2024 5-year
18.8%vacant
7,035estimated housing units
Occupied tenure44.6% renter
owner 55.4%renter 44.6%
Structure mix72.2% single-family
Single-family 72.2%20+ units 7.3%Mobile home 0.7%Other 19.8%
ACS estimates describe the standing housing stock and occupied tenure. They do not measure current listings, transaction prices or asking rents.

Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.

Annual average covered jobs8,854▼ 4.2% from the prior annual release
Covered establishments966annual average reporting locations
Average weekly wage$852▲ 1.9% from the prior annual release
Largest private supersectorEducation and health services36.5% of disclosed private covered jobs
Local labor base

Jobs, pay and private-sector concentration

2025
0%COVERED JOBS−4.2%WEEKLY WAGE+1.9%Education and health services36.5%
Annual QCEW counts cover jobs located at reporting establishments. The industry share uses disclosed private covered employment; it is not a resident-employment measure or a forecast.

Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2025 vs 2024 · pulled 2026-07-31. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.

County brief

What the local evidence says

01Decision frame

Martinsville city presents a stated gross-yield screen against soft price and workplace measures, so cash-flow investigators should pursue property-level diligence while appreciation-dependent buyers should be cautious. At Zillow’s county observation for 2026-06, median home value was $119,923, published median asking rent was $950 per month, and gross yield was 9.51% before costs. Zillow’s value change was down 2.68% year over year; FHFA’s 2025 repeat-transaction HPI was down 0.74% annually. Those are distinct vintages and methods, not one comparable growth rate.

02Housing economics

Market rent, rather than HUD’s $914 two-bedroom FMR payment standard, supports the stated yield; FMR is not an asking-rent estimate. The yield is gross, not a cash return: the effective property-tax rate is 0.77%, and carrying costs, repairs, vacancy, management, insurance and financing are not published. Inland flood is the dominant hazard, while modeled climate loss equals 0.09% of building value per year. That combination makes insurance, flood exposure and property condition material to whether the screen survives underwriting.

03Demand & competition

QCEW’s 2025 annual average of covered jobs at county workplaces declined 4.17%, while average weekly covered-worker wage increased 1.91%. Education and health services accounted for 36.47% of private covered employment, the largest disclosed private supersector rather than the full economy. Tax-return migration showed a net loss of 23 households, and departing movers had average AGI $6,667 higher than arrivals. Investor borrowers represented 17.52% of 137 purchases, indicating a visible non-owner-occupant buyer segment but not tenant demand or a property’s sale outcome.

04Risk & next checks

Realtor.com listing-market evidence is not published: median MLS asking price, active listings, days on market, price-reduced share and pending ratio cannot test visible supply, seller concessions or liquidity. Vacancy, rent growth, lease concessions, insurance quotes, flood-zone and mitigation details, property condition, debt terms and transaction-level rents are also absent. These gaps prevent a net-operating-income conclusion and prevent determining whether county signals apply to a specific asset. Next checks are lease comps, operating statements, flood and insurance diligence, and current MLS records.

Cities & communities

Where people live within Martinsville city

Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.

Population scale

Largest Census places

ACS 2024 5-year
Martinsville city13.7K
Bars use total place population, not a county-share estimate. An asterisk marks a place that crosses a county line.
Official directory

1 Census places

Population
  1. 01
    Martinsville cityIncorporated place
    13,658

Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.

Risk, demand and competition

The three things a price does not tell you

01
Risk & carrying costFEMA NRI + Census ACS
Dominant hazardinland flooding

0.086% of building value expected lost per year

Effective property tax0.77%

$760 median annual bill

02
DemandIRS SOI household flows
Net migration-23

461 in · 484 out

Arriving vs leaving income−$6,667

$35,649 arriving · $42,316 leaving

03
CompetitionHMDA financed purchases
Purchases by investors17.5%

24 of 137 mortgages

investorother financed
Same metro

The other counties in Martinsville, VA

A metro is an average of these. Which side of a county line a property sits on can change the tax bill, the hazard profile and the tenant pool.

CountyPopulationPriceRentYieldHazard
Martinsville city13,658$120k$9509.5%inland flooding
Henry County49,980$143k$8226.9%inland flooding
Bear case

What can break the county thesis

  1. Unpublished vacancy, maintenance, insurance and financing costs may materially reduce the stated gross yield.
  2. Inland-flood exposure and property-specific insurance availability may exceed county-level modeled risk.
  3. County employment and migration signals may not describe the tenant base, condition or demand for a particular property.
Underwriting questions

Before pricing a property

Is the reported yield based on HUD FMR?

No. The record publishes market asking rent and separately identifies FMR as a payment standard.

Does the record show MLS supply or marketing-time evidence?

No. The Realtor.com inventory period is not published, so listing price, active inventory, days on market and reductions are unavailable.

What does QCEW measure here?

Annual average covered jobs at county workplaces; it does not measure resident employment or unemployment.