RANK #769 / 1001 NAT · #24 / 37 VA · POP 50,760
1YR FORECAST: -1.0%
5YR OUTLOOK: +24%
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.
Henry County is one of 75 U.S. counties in this market profile — weaker than typical on the BoomTown Index. Within this cohort, its recent home-price change of -3.5% runs below the profile's typical +0.8%.
See all 75 Affordable Slow Markets counties →Overvalued relative to economy
Prices declining
Below-average climate & terrain
Below national median (15x)
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.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
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 1001 counties.
At 22/100, Henry County faces headwinds that place it in the lower third of the 1001 counties we track. Median income of $43,694 combined with job growth of -2.2% suggests the local economy is struggling to keep pace with national trends.
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.
Both population (-0.8% YoY) and employment (-2.2%) are contracting in Henry County, though housing tells its own story with values moving -3.5% over the past 12 months. This is a county where the trend lines are pointing in the wrong direction.
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.