10 Most Affordable Cities to Buy in Virginia  

Are you seeking affordability without compromising on lifestyle? Virginia delivers in a big way. Find beautiful coastal properties, amenity-rich big-city living, and rolling hills dotted with farms and small towns. While the state carried a median home value of $365,000 in 2022, a large contingent had prices well below this figure, even in 2024. Using home value data from the US Census and the most recent available market reports, we’ve collated a list of the most affordable cities to live in Virginia. You won’t be disappointed, as these options have an incredibly high quality of life for their lower cost of living.

Hampton

Starting with the tenth most affordable city to buy in Virginia, Hampton had a median home value of $250,000. Pricing growth looks more stable, as median sold prices of $267,000 in November 2023 were not much above its 2022 estimated housing value.

Hampton sits at the end of the Hampton Roads peninsula, where the James River meets the Chesapeake Bay. With its high affordability, you may be shocked to learn it’s the seventh most-populated town in Virginia–home to almost 140,000 people!

This historic city dates to the colonial era, but beautiful old architecture is just part of its charm. With miles of shoreline and water views, you can’t miss the influence of the sea. Taste it in the salty breezes and the fresh caught catches and oysters at the local restaurants. At Fort Monroe, locals have miles of oceanfront for beach days, with fishing and boating access available. 

Further adding to the high quality of life, a strong local economy is backed with robust military, healthcare, and education jobs and access. Culturally, it has national monuments, historic sites, art museums, and large-scale shopping centers. 

Staunton

If you’ve dreamed of a peaceful Shenandoah Valley home but want a more modern lifestyle, then Staunton could be the right blend between the two. Staunton homes were valued at $244,800 in 2022. By November 2023, local homes were selling for a median of $288,000.

This small town has all the classic appeal expected from living in the valley. In-town is a mountain-based folk arts and music tradition wrapped around town festivals and small theaters resembling Shakespeare’s historic Globe Theater. A historic university adds to the culture, as do the museums that include a Presidential library. Restaurants cook up what’s seasonal from local farms, and the craft brewing scene has put down roots, too. 

What really calls to people is the outdoor abundance. The Shenandoah National Park is a short drive away. From there, and the other natural areas, find miles of biking and hiking, mountain backdrops on golf courses, freshwater flyfishing, idyllic creeks, and multiple parks. It even gets cold enough for snow sports. 

Newport News

Another Hampton Roads region town, Newport News, had a median home value of $240,900. Even through 2023, it remained relatively affordable, with November 2023 median home prices of $270,000.

Around 185,000 people called Newport News home in 2021, making it Virginia’s fifth-most populated city. Their quality of life included an amenity-rich urban and waterfront environment. Locals have over 20 public parks, two municipal 18-hole golf courses, public boat ramps, and recreation facilities. The waterfront runs 23 miles along the James River and Hampton Roads Harbour. 

This access has made Newport News important as a commerce center dating back to colonial times, both for maritime shipbuilding and military defense. In today’s age, add to that abundant work in research and technology. 

Portsmouth

Portsmouth is the most affordable city in the Hampton Roads region. Another affordable waterfront option, this small town had relatively affordable homes valued at $231,700. Median list and sold prices stayed stable throughout 2023, ending with a median sold price of $245,300 in December 2023.

Find Portsmouth across from Norfolk. Like other local cities, its history goes back to the colonial days, making it over two centuries old. The maritime city is home to a historic Naval Medical Center, historic sites relating to the Revolution, the Underground Railroad, and military history. 

As a place to live, you have quirky and historic neighborhoods, art and business districts, unique and seafood-forward dining, and multiple museums. Portsmouth has fishing piers, municipal golf, playgrounds, and art-filled public walking trails for recreation.

Salem

The sixth most affordable city to buy in Virginia is away from the coast and closer to the mountains. A suburb of nearby Roanoke, Salem homes had a median value of $228,600, but this figure may be much higher in 2023. November 2023’s median sold price of $334,500 hints at housing demand.

Salem’s perks include proximity to major transportation corridors. I-81 is in its backyard, and the regional airport is just east. On the other side of the interstate awaits the expansive Havens Wildlife Management Area, comprising 7,000 acres of rebounding forests. 

Salem describes itself as an “old-fashioned small-town” focused on growing its infrastructure and community offerings. Locals have a Farmers’ Market, a sports complex, a senior center, and a recreation center. Trails link to the Roanoke Valley Greenways. Even though it’s one of the less populated choices on this list, it has hosted NCAA baseball and Division III football tournaments.

Lynchburg

The state’s fifth-most affordable city reports homes carry a median value of $215,200. Pricing growth was marginal and steady in this centrally located city, with December 2023 having a median sold price of $235,000. Listing and selling prices were somewhat stable, if not slightly down, from a December 2022 peak.

Outsiders often know Lynchburg as the home of Liberty University, a top-ranked Christian-based private University. It’s been ranked by some as a top-ten college town nationwide. The result is a youthful vibe, with lots of art, music, sports, and community events. 

With its artsy vibe, low unemployment rates, and low cost of living, Lynchburg is ranked highly as a place for millennials to call home. 

This city east of the mountains has a long history, shaping its culture and historic look. Over 40 miles of trails connect its neighborhoods and riverfront, as its outdoor access is part of Lynchburg’s appeal. Hiking trails, waterfalls, and mountain biking await with easy reach.

Roanoke

Roanoke is marked with a literal neon star on Mill Mountain, a prized local landmark for this city in the Blue Ridge Mountains. Roanoke homes had a value of $183,400 in 2022. Prices remained affordable, with November 2023 median sold prices reporting $205,750.

Roanoke is a jumping-off point for mountain adventures while giving residents access to the quality health care, education, and entertainment they desire. Pushing close to 100,000 residents as of 2021, it blends affordability with urban-style living. This top-rated mountain destination has its own hockey team, a 45-mile Blueway Trail, and an energetic arts district. Cultural attractions include venues like the Taubman Museum of Art, Center in the Square, Mill Mountain Zoo, and the Roanoke Symphony Orchestra. Roanoke maintains over 14,000 parks inside its city limits, with everything you need for fitness or a relaxing day outside.

Economically, the city is an innovative hub with multi-million dollar investments in biomedical and technology companies. These cutting-edge brands partner with research institutions like Carilion Clinic and Virginia Tech.

Petersburg 

This riverfront city showed incredible value for being so close to water and major interstate junctions. Petersburg homes had a median value of $182,200, just $1,200 less than Roanoke. The market didn’t have as many homes for sale, but those on the market show home values are growing in this small town. December 2023 had a median sold price of $206,000 for the 57 closed properties, with more home sales than the prior year.

As for what makes it special, Petersburg is at the crossroads of I-85, I-95, and I-295 just south of the state capital, Richmond. The Appomattox River winds through the core on its way to the James River confluence. 

Find this centuries-old city in the pages of American history. Petersburg played a prominent role during the Civil War as it was the site of several significant battles, including the Siege of Petersburg. Visitors come to visit the Petersburg National Battlefield. 

Historic sites abound, but Petersburg is a modern place to put down roots. Locals enjoy a delicious restaurant scene fed by local farms and agribusiness and a growing craft distillery scene. Virginia State University contributes to its educational excellence. 

Hopewell

The second-most affordable city to buy in Virginia based on value was almost $70,000 above the state’s most affordable. Hopewell homes had a median value of $169,900 and a median November 2023 sold price of $225,000.

Locate this small town South of Richmond on the historic Appomattox River and just off of I-295. As the oldest continuously occupied English settlement, Hopewell has experienced Revolutionary War skirmishes, Civil War generals, and the rise and fall of industry. The Appomattox Plantation is a local historical site that reflects the area’s connection to the past. 

Today, its economic base includes well-known manufacturers like Honeywell. The beautiful historic downtown district is an epicenter of the local town culture. It has antique stores, brick-paved sidewalks, and a beautifully restored Beacon Theater. Its community theater and recreation programs, as do family-friendly festivals, enhance the quality of life. On the Hopewell event calendar are fireworks over the river, a holiday lights tour, and a 5k run. Fresh-caught oysters, BBQ, and dining right on the rivers highlight a thriving culinary scene. Abundant waterfront access is part of the perks of living here.

Danville

The City of Danville carried the lowest median housing value in 2022, signaling the potential for a great deal on a home. The most affordable city to buy in Virginia reported home values of $96,900. However, local real estate was selling for a median of $200,000 in November 2023.

Danville lies in the beautiful south-central hills right on the North Carolina border. While it falls neatly into the “small town” category, the quality of life is incredibly high. Its accolades include being named a child-friendly “Playful City USA,” a “World Class Community” by Industry Week, and a “Top Micro-City of the Future.” The economic and cultural hub for an agricultural region has three higher education providers, a Museum of Fine Arts, a symphony orchestra, and a baseball team in the Appalachian League. The downtown riverwalk is a thriving Main Street-styled commercial center with a revamped park, part of a city system that includes mountain bike trails and sports leagues.

Affordable Cities to Buy in Virginia

As you can see, some of Virginia’s most affordable places to buy a home rank highly for their quality of life. Their diversity is incredible. It’s not often you see low-cost waterfront cities and mountain towns in the same state! On top of that, several have populations of over 100,000 people. You can have an affordable home in a small town or city. So what are you waiting for? Find your perfect Virginia home when you work with a local real estate agent.