Wednesbury and Brierley Hill will each receive £1.8m as part of the High Street Heritage Action Zone, a project by Historic England.
The majority of the fund will be spent on essential repairs to historic buildings, developing educational projects to turn the sites into community hubs, and helping increase skills shortages.
A total of 12 historic high streets across the Midlands have been offered government funding to give them a new lease of life and help them recover from declining footfall and the blow dealt by the Covid-19 pandemic.
The High Streets Heritage Action Zone initiative in England is funded with £40 million from the Department for Digital, Culture Media and Sport’s Heritage High Street Fund and £52 million from the Ministry of Housing, Communities and Local Government’s Future High Street Fund. £3 million will be provided by the Lottery.
Louise Brennan, Historic England regional director for the Midlands said: "Whether it's a medieval market town, or a post-industrial centre, every high street in England has a distinctive history that can be harnessed to help it achieve a prosperous future.
"Investing in heritage delivers good results for people – it means looking after and celebrating the places at the heart of our communities, and the buildings and public spaces which define their character.
"This investment for our Historic High Streets Action Zone scheme will unlock the potential of these precious high streets and help them thrive again."