Ridgeway
RANK #585 / 996 NAT · #13 / 37 VA · POP 50,760
1YR FORECAST: +1.4%
5YR OUTLOOK: +22%
Henry County, Virginia, located in the foothills of the Blue Ridge Mountains, is often recognized for the Martinsville Speedway, a prominent NASCAR short track. The county, established in 1777 and named after Patrick Henry, is situated on Virginia's southern border, approximately 50 miles from Roanoke, Virginia, and Greensboro, North Carolina. Commuting within the county is generally shorter than the national average, with an average one-way commute of 23.6 minutes. Public transportation, including the Piedmont Area Regional Transit (PART) bus system, serves Martinsville and Henry County. The area offers various outdoor recreation opportunities, such as fishing in the Smith River, hiking trails, and activities at Philpott Lake and Fairy Stone State Park.
Life in Henry County is characterized by a blend of small-town charm and access to amenities. The cost of living is lower than the national average, with affordable housing options. Henry County Public Schools serve over 7,000 students across elementary, middle, and high schools, with all schools fully accredited. Recent economic developments show investments in advanced manufacturing, including a new facility for automotive components and electric vehicle battery materials. There are also initiatives focused on industrial skills trades training and broader regional economic growth strategies.
Overvalued relative to economy
Prices declining
Below-average climate & terrain
Above national median (13x)
Housing looks overvalued at 7.9x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Axton Solar Project
Vesper Energy
|
$200M | Planned |
|
Press Glass Manufacturing Facility Expansion
Press Glass, Inc.
|
$155M | Under Construction |
|
Crown Holdings Beverage Can Manufacturing Facility
Crown Holdings, Inc.
|
$145M | Operating |
|
WPPDC West Universal Broadband Project
RiverStreet Networks, Appalachian Power, Henry County, Franklin County, Patrick County
|
$50M | Under Construction |
|
Villa Heights Housing Project (13 homes)
West Piedmont Planning District Commission, Henry County, The Harvest Foundation, Havenmore, Virginia Statewide Community Land Trust
|
$50M | Under Construction |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
Henry County scores 41/100 on the Boom Town Index, landing in the middle of the pack among 996 U.S. counties (#585). Median household income is $43,694 and job growth is running at -0.4%. The data points to a county with mixed signals — some positive indicators alongside areas that lag faster-growing peers.
By national standards, Henry County is quite affordable. Homes here have a median value of $111,800, and the income-to-home-value ratio of 0.39 is well above the U.S. average — especially with median rent at just $686/month. Residents can generally buy a home without being cost-burdened.
Henry County is losing population (-0.6% YoY) while the job market is essentially flat (-0.4% employment change). Home values are -4.8% over the past 12 months. A slow-bleed pattern — not a collapse, but residents are leaving faster than employers are hiring.
There's a moderate stream of newcomers. About 2.08% of residents moved from another state, which is above average and suggests Henry County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.