Martinsville, IN—46151
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Martinsville, IN
As of Oct '25, the median home price in Martinsville, IN is $285,000, with a year-over-year change of 2.9%. This indicates that home prices in Martinsville, IN are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $285,000 | 3.0% |
| Single Family | $286,000 | 2.5% |
| Condos | $201,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $152,000 | 0.7% |
2 Bed | $198,000 | 3.1% |
3 Bed | $291,000 | 3.6% |
4 Bed | $402,000 | 3.6% |
| 5 Bed | $498,000 | 2.9% |
% of Housing Stock
Rental Trends — Martinsville, IN
As of July '25, Rentcast reports the average rent in Martinsville, IN is $1,140, with a year-over-year rent change of -19.1%. Per bedroom, the median rent as of July '25 in Martinsville, IN is 1-bedrooms: $910, 2-bedrooms: $1,170, 3-bedrooms: $1,540. The most common rental property sizes in Martinsville, IN are 2-bedroom and 3-bedroom, accounting for 50.8% and 27.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,140 | $1,140 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $875 | $910 |
| 2 Bed Rent | $1,140 | $1,170 |
| 3 Bed Rent | $1,540 | $1,540 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Martinsville, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Martinsville, IN is 53. This is a decrease of -18.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $378,000 | 4.0% |
Listing Count | 138 | 6.0% |
| Listings as % of Homes | 0.7% | 6.0% |
Days on Market | 53 | -18.0% |
Demographics — Martinsville, IN
As of the latest ACS Survey released in 2023, Martinsville, IN has a population of 32,300, which has increased by 1.7% over the past 5 years. Martinsville, IN is a moderately popular place for families, as children make up 22.4% of the population. The area has a poorly educated workforce, with 19.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,300 | 1.7% |
% Under 18 | 22.4% | -2.6% |
% Seniors | 16.3% | -2.4% |
% WFH | 11.7% | 225.0% |
% w/ College Degree | 19.7% | 15.9% |
As of the latest ACS Survey released in 2023, Martinsville, IN is a predominantly white area, with 95.3% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Martinsville, IN is hispanic, making up 1.5% of the population. Foreign-born residents account for 1.1% of the population in Martinsville, IN, and this percentage has decreased by 35.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 95.3% | -0.6% |
% Black | 0.4% | -42.9% |
% Hispanic | 1.5% | 87.5% |
% Asian | 0.8% | -11.1% |
% Foreign Born | 1.1% | -35.3% |
Mortgage and Risk — Martinsville, IN
According to HUD data as of 2023, there were 747 mortgage originations in Martinsville, IN, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Martinsville, IN. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 747 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Martinsville, IN
Martinsville, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 343 |
Total Units Section 8 | 343 |
% Rentals under Section 8 | 14.5% |
% Occupied Section 8 | 93.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $165 | $875 | $1,040 |
| 2 Bedroom | $80 | $1,140 | $1,220 |
| 3 Bedroom | $50 | $1,540 | $1,590 |
| 4 Bedroom | N/A | N/A | $1,920 |
Affordability — Martinsville, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $285,000 |
| Median Household Income | $77,700 |