Martinsville, IN

Very Low · 59

Indiana · Population 11,913 · Updated March 2026

$952
Median Rent / Month
$56,186
Median Income
$140,400
Median Home Value
$952
Owner Costs / Month

Affordability

How far your income goes in Martinsville

20.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Indiana

State-level tax rates that affect your costs

3.05%
Income Tax (Top Rate)
7.0%
Sales Tax
0.83%
Property Tax Rate

Estimated Annual Costs

$11,424
Annual Rent
$1,714
State Income Tax
$1,165
Property Tax (est.)

Cost of Living Overview

Martinsville is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 59 (where 100 equals the national median), Martinsville residents can expect to pay median rent of $952/month while earning a median household income of $56,186/year.

The median home value in Martinsville, IN is $140,400, with typical monthly owner costs around $952 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Indiana has a moderate income tax rate of 3.05%. Combined with a 7.0% sales tax rate and 0.83% effective property tax rate, the overall tax environment is a factor in the total cost of living in Martinsville.

Frequently Asked Questions

Common questions about living costs in Martinsville

What is the cost of living in Martinsville, IN?
The cost of living index in Martinsville, IN is 59 (US average = 100). Median monthly rent is $952, median household income is $56,186/year, and the median home value is $140,400.
Is Martinsville, IN affordable?
Yes, Martinsville is more affordable than the national average with a cost index of 59. The rent-to-income ratio is 20.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Martinsville, IN?
The median gross rent in Martinsville, IN is $952 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,424.
What is the median household income in Martinsville?
The median household income in Martinsville, IN is $56,186 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Indiana?
Indiana has a top income tax rate of 3.05%, a sales tax of 7.0%, and an effective property tax rate of 0.83%.