Martin, TN

Very Low · 57

Tennessee · Population 10,864 · Updated March 2026

$808
Median Rent / Month
$41,510
Median Income
$177,700
Median Home Value
$797
Owner Costs / Month

Affordability

How far your income goes in Martin

23.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Tennessee

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
7.0%
Sales Tax
0.64%
Property Tax Rate

Estimated Annual Costs

$9,696
Annual Rent
$0
State Income Tax
$1,137
Property Tax (est.)

Cost of Living Overview

Martin is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 57 (where 100 equals the national median), Martin residents can expect to pay median rent of $808/month while earning a median household income of $41,510/year.

The median home value in Martin, TN is $177,700, with typical monthly owner costs around $797 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Tennessee has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 7.0% sales tax rate and 0.64% effective property tax rate, the overall tax environment helps keep costs manageable in Martin.

Frequently Asked Questions

Common questions about living costs in Martin

What is the cost of living in Martin, TN?
The cost of living index in Martin, TN is 57 (US average = 100). Median monthly rent is $808, median household income is $41,510/year, and the median home value is $177,700.
Is Martin, TN affordable?
Yes, Martin is more affordable than the national average with a cost index of 57. The rent-to-income ratio is 23.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Martin, TN?
The median gross rent in Martin, TN is $808 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,696.
What is the median household income in Martin?
The median household income in Martin, TN is $41,510 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Tennessee?
Tennessee has a top income tax rate of 0%, a sales tax of 7.0%, and an effective property tax rate of 0.64%. Notably, there is no state income tax.