Martinsville, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Martinsville Neighborhoods Since 2000




Martinsville, IN Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Martinsville Housing Market Information

With 11,690 people, 4,441 houses or apartments, and a median cost of homes of $86,654, house prices in Martinsville are some of the most affordable in Indiana as well as the nation.

Single-family detached homes are the single most common housing type in Martinsville, accounting for 65.93% of the city's housing units. Other types of housing that are prevalent in Martinsville include large apartment complexes or high rise apartments ( 11.57%), duplexes, homes converted to apartments or other small apartment buildings ( 10.34%), and a few row houses and other attached homes ( 7.19%).

The most prevalent building size and type in Martinsville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.74% owning and 49.26% renting.

There is a lot of housing in Martinsville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Martinsville built between 1940-1969 ( 30.26%). A lesser amount of the housing stock also hails from before 1939 ( 29.22%). There's also some housing in Martinsville built between 2000 and later ( 6.43%).

Vacant housing appears to be an issue in Martinsville. Fully 10.52% of the housing stock is classified as vacant. Left unchecked, vacant Martinsville homes and apartments can be a drag on the real estate market, holding Martinsville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Martinsville Home Appreciation Rates

Real estate appreciation rates in Martinsville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.58% during the period.

Over the last year, Martinsville appreciation rates have trailed the rest of the nation. In the last twelve months, Martinsville's appreciation rate has been 0.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Martinsville were at -0.60%, which equates to an annual appreciation rate of -2.40%.

Notably, Martinsville's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Martinsville's latest annual appreciation rate is lower than 80% of the other cities and towns in Indiana.

Average Home Values

 

Median Home Value:
$86,654

Martinsville, IN HOME PRICES

Value Range
> $1,038,000 0.0
$778,001 - $1,038,000 0.0
$519,001 - $778,000 0.9
$415,001 - $519,000 0.6
$311,001 - $415,000 3.3
$208,001 - $311,000 6.8
$104,001 - $208,000 35.6
$52,001 - $104,000 39.9
$0 - $52,000 13.1

Very Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
86.3588421422712 86.6515837104072

Number Of Homes And Apartments:
4,441

Martinsville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
5.32% 0.30% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$815 / per month

Homeownership Rate

Homeownership
Owners 50.74
Renters 49.26
Vacant 10.52

Housing Market Details

 

Age of Homes

AGE OF Martinsville HOMES
2000 or Newer 6.4
1970 - 1999 34.1
1940 - 1969 30.3
1939 or Older 29.2

Types of Homes

TYPE OF Martinsville HOMES
Single-Family 65.9
Townhomes 7.2
Small Apt. Buildings 10.3
Apt. Complexes 11.6
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Martinsville HOMES
No Bedroom 1.13
1 Bedroom 13.92
2 Bedrooms 34.33
3 Bedrooms 38.91
4 Bedrooms 10.82
5 or more bedrooms 0.89

Zip Codes in Martinsville, IN