Indications of Totnes' former wealth and importance are given by the number of merchants' houses built in the 16th and 17th centuries, one open to the public as the town museum. The remains of the Norman Totnes Castle (now owned by English Heritage) may also be visited. It was built during the reign of William I. Equally notable is the late medieval church of St Mary built of rich red Devonian stone. The ancient Leechwell (so named because of the supposed medicinal properties of its water, and apparently where lepers once came to wash) still provides fresh water, and is preserved from former days.

In March 2007 Totnes has become noted in the UK as the first town to introduce its own local alternative currency, the Totnes Pound, in order to support the local economy of the town. It is accepted by several small businesses within the town.