Martinsville city, Virginia: commercial real estate data.
Martinsville city, Virginia had an estimated 13,834 residents on July 1, 2024, up 2.6 percent since the 2020 census base of 13,482, across 11 square miles. 511 establishments operate here, and the SBA record carries 6 7(a) approvals worth $4.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Martinsville city
How many people live in Martinsville city
- Population, American Community Survey 2020-202413,658
- Households5,711
- Average household size2.39
- Median household income$46,727
- Median age38.4
- Median gross rent$808 per month
- Median owner-occupied home value$98,400
- Home value to household income2.1 times
- Annual rent as a share of median income20.8 percent
- Adults 25 and over with a bachelor degree or higher22.1 percent
- Adults 25 and over with a graduate degree8.2 percent
- Adults 25 and over8,873
- Population under 183,660
- Share under 1826.8 percent
- Population 65 and over2,285
- Share 65 and over16.7 percent
- Working age population, 18 to 647,713
- Civilian labor force5,913
- Unemployment rate2.9 percent
- Labor force participation, adults 18 and over59.1 percent
- Rank by population among Virginia independent cities104th of 133
- Rank by population among US county-equivalents, Puerto Rico included2248th of 3,222
Martinsville city is the 104th largest of 133 Virginia independent cities by population. A median home costs 2.1 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 26.8 percent against 16.7 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Martinsville city
Is Martinsville city's population growing?
- Population, July 1, 202413,834
- Census 2020 base population13,482
- Population change since the 2020 census base2.61 percent
- Population change, 2023 to 202481
- Births, 2024248
- Deaths, 2024311
- Natural change, 2024-63
- Net domestic migration, 202459
- Net international migration, 202487
- Total net migration, 2024146
- Cumulative net domestic migration, 2021 to 2024372
- Rank by growth among US county-equivalents981st of 3,144
The county has grown 2.61 percent since the 2020 census base. Deaths exceeded births in 2024 and the population still grew, so all of the growth came from people moving in. A market held up by migration is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Martinsville city
Where are people moving to Martinsville city from?
- Tax returns filed by households arriving519
- People arriving, from those returns968
- Tax returns filed by households leaving471
- Net household movement48
- Adjusted gross income arriving$21.4 m
- Net adjusted gross income movement$557,000
- Average income of an arriving household$41,181
- Average income of a leaving household$44,195
- Largest single originHenry County (256 households)
- Largest single destinationHenry County (269 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Henry County | 256 | 448 | $10.1 m |
| Patrick County | 21 | 40 | $648,000 |
Households arriving report $3,014 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Henry County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Martinsville city
Employment by industry in Martinsville city
- Covered employment, annual average9,239
- Establishments reporting959
- Average annual pay$43,459
- Average weekly wage$836
- Retail trade, employment1,219
- Retail trade, average annual pay$33,611
- Administrative and support and waste management services, employment1,034
- Administrative and support and waste management services, average annual pay$36,042
- Manufacturing, employment925
- Manufacturing, average annual pay$52,896
- Accommodation and food services, employment710
- Accommodation and food services, average annual pay$20,844
- Other services, except public administration, employment355
- Management of companies and enterprises, employment216
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Retail trade | 1,219 | 72 | $33,611 |
| Administrative and support and waste management services | 1,034 | 22 | $36,042 |
| Manufacturing | 925 | 18 | $52,896 |
| Accommodation and food services | 710 | 38 | $20,844 |
| Other services, except public administration | 355 | 76 | $28,883 |
| Management of companies and enterprises | 216 | 9 | $93,726 |
| Professional, scientific and technical services | 136 | 38 | $67,023 |
| Finance and insurance | 134 | 30 | $83,477 |
Retail trade is the largest private sector at 1,219 jobs, 13.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Martinsville city
How many businesses are in Martinsville city?
- Establishments, all industries511
- Employment at those establishments9,013
- Annual payroll$358.3 m
- Establishments per 1,000 residents37.4
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Martinsville city
Building permits in Martinsville city
- Housing units authorized by permit, 202455
- Declared construction value permitted$9.9 m
- Single family units authorized3
- Multifamily units authorized52
- Multifamily share of units94.5 percent
- Average declared value per unit$180,741
- Units authorized per 1,000 households9.6
Multifamily is 94.5 percent of units authorized, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Martinsville city
SBA loans in Martinsville city (7(a) and 504)
- 7(a) approvals recorded6
- 7(a) gross approval dollars$4.8 m
- Average 7(a) approval$798,350
- Median 7(a) approval$715,500
- Largest single approval$1,955,000
- Jobs reported supported, 7(a)27
- Jobs per approval4.5
- Distinct 7(a) lenders active6
- Distinct industries receiving approvals6
- Median 7(a) term210 months
- Share of loans on real estate terms, 240 months or longer50.0 percent
- Loans on real estate terms3
- Loans on working capital terms, 120 months or shorter3
- Franchise loans0
- Franchise share of approvals0.0 percent
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Martinsville city
SBA loan default and charge-off rates in Martinsville city
Do SBA loans in Martinsville city get paid back?
- Loans with a final outcome recorded0
- Paid in full0
- Charged off0
- Status: Exempt from disclosure4
- Status: Cancelled2
Only 0 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Martinsville city
How large is Martinsville city?
- Land area11 sq mi
- Rank by land area among Virginia independent cities115th of 133
- Width, east to west4.3 mi
- Height, north to south4.7 mi
- Geographies sharing a boundary1
- Residents per square mile of land1,242
- Establishments per square mile46.45
- Radon levels in Martinsville city, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Martinsville city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Martinsville city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202413,658
- Households5,711
- Average household size2.39
- Median household income$46,727
- Median age38.4
Common questions
Martinsville city questions, answered from the record.
How many people live in Martinsville city, Virginia?
The Census Bureau estimates 13,834 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 13,658, in 5,711 households, ranking 104th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Martinsville city's population growing?
The population has grown 2.61 percent since the 2020 census base of 13,482, to 13,834 on July 1, 2024. In 2024 there were 248 births against 311 deaths, with net migration of 146. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Martinsville city?
$46,727. The median owner-occupied home is valued at $98,400, which is 2.1 times income, and median gross rent is $808 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Martinsville city?
511 establishments, employing 9,013 people with an annual payroll of $358.3 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Martinsville city?
Retail trade is the largest private sector at 1,219 jobs, 13.2 percent of covered employment. Covered employment averages 9,239 jobs at an average annual pay of $43,459, or $836 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Martinsville city?
6 7(a) approvals totaling $4.8 m since FY2020, across 6 lenders, with a median approval of $715,500. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Martinsville city?
55 housing units were authorized by permit in 2024, with a declared construction value of $9.9 m. Multifamily was 94.5 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Martinsville city?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Martinsville city come from?
The largest single origin is Henry County, with 256 households. Arriving households report an average income of $41,181 against $44,195 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Martinsville city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Martinsville city?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
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