The present paper proposes a new homogenization method in order to determine the in-plane strength domain of a single-wythe, running-bond masonry wall. Two approaches, one analytical and one numerical, relying on the limit analysis/yield design framework, are introduced. The main novelty of these two approaches is that they allow to take into account a finite strength for the blocks and the mortar, as well as a non-zero thickness for the joints, without any specific assumption on the state of stress or strain of the structure. For that purpose, 3D virtual failure mechanisms are considered. A comprehensive parametric study is performed, showing that in many cases, the analytical approach is as precise as the numerical one for a much lower computational cost. Finally, the strength domains obtained by the proposed approaches are compared to the results of an extensive experimental study on reduced-scale masonry wallettes available in the literature, showing a good agreement in the compression-compression range.