Updated 2026 · Based on median market data for Martinsville, VA
The median monthly rent in Martinsville, VA is $880, translating to $10,560 in annual gross rental income per unit. The rent-to-price ratio is 0.65% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Martinsville spend approximately 18% of the local median household income ($57,250) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Martinsville is 5.2%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.7% annually provides stable demand.
Martinsville's GRM (price divided by annual rent) is 12.8x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $880/mo, a single-family rental in Martinsville generates approximately $10,560 in gross annual income. After accounting for 5.2% vacancy ($549 lost), property taxes of $1,161, insurance (~$540), and maintenance (~$540), the estimated NOI is $7,770 per year, or $647/mo.
Martinsville vs Virginia state average and national average across key investment metrics. Martinsville outperforms both benchmarks on cap rate.