Quick facts: Martinsville, IN

Quick Facts

95.3
Cost of Living
below US average
11,858
Population
60.72
Crime Rate per 1000
above US average
$57,383
Median Income
below US average
$243,900
Median House Price
above US average
$1067.5
Average Rent
below US average
12%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,383.

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Income Needed to Buy

βœ— Stretch
$77k/year
Based on $243,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $77k vs median $57,383
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Income Needed to Rent

βœ“ Affordable
$46k/year
Based on $1067.5/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($57,383) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Martinsville, IN

Martinsville, Indiana, situated in Morgan County, is a charming small city that combines a rich history with a welcoming community atmosphere. Located approximately 20 miles southwest of Indianapolis, it serves as a convenient getaway from urban life while still offering access to city amenities. Known for its picturesque landscapes, Martinsville features numerous parks and outdoor recreational areas, including the popular Martinsville Public Library and various trails for hiking and biking. The city has a strong sense of community, with local events such as the annual Fall Festival and various farmers markets showcasing its vibrant culture and local produce. Residents often enjoy the benefits of a tight-knit community, with schools that emphasize education and youth development. Martinsville is also steeped in history, with architecture that reflects its past, particularly along the downtown area. As part of the larger Indianapolis metropolitan area, it offers a blend of rural charm and suburban convenience, making it an appealing choice for families and individuals looking for a peaceful lifestyle with easy access to larger urban centers.

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