Martinsville cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMartinsvilleIndianaNational
Cost of living index8488100
IndexMartinsvilleIndianaNational
Goods & Services index9895100
Groceries index9492100
Health care index9995100
Housing index5973100
Transportation index9293100
Utilities index9193100
An overview of the general cost of living index for Martinsville, IN is displayed above for your reference. Residents in Martinsville, IN enjoy a cost of living index of 84. This index is 4% lower than the Indiana average, and 16% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Martinsville, IN, the average cost of goods and services is 3% higher than it is in Indiana, and it is 2% lower than the national average.

Did you know?

  • The cost of living in Martinsville is 4% lower than the Indiana average.
  • The cost of living in Martinsville is 16% lower than the national average.
  • The cost of housing in Martinsville is 41% lower than the national average.
  • Indiana general sales tax is 37% higher than the national average.
  • Indiana state income tax is 48% higher than the national average.

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Compare Martinsville, IN Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Martinsville, IN to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Martinsville, IN, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Martinsville, IN salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$48,705$4,059$1,136$1,461
Renters$23,056$1,921$538$692
One can approximate the cost of living and the housing affordability in Martinsville, IN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Martinsville, IN have a median income of $48,705. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,136 per month to avoid calamity and poverty. The renters in the city have an income of about $23,056, which would make their monthly maximum allowable rental costs $538.

Indiana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Indiana7%7%

Indiana Income Tax

StateIncome Tax (Low)Income Tax (High)
Indiana3.3%3.3%
The Indiana sales tax and Indiana income tax rates should definitely be considered when determining the overall cost of living in Martinsville, IN. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Indiana sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Indiana income tax rates range from 3.3% to 3.3%.

Goods & Services

ItemMartinsvilleNational avg.Difference
Haircut $19.60$14.5934.3%
Beauty Salon $29.80$34.6814.1%
Toothpaste $2.34$2.475.4%
Shampoo $1.03$1.020.8%
Movie $10.53$9.876.7%
Bowling $4.30$4.392.1%

Groceries

ItemMartinsvilleNational avg.Difference
Ground Beef $4.34$4.483.1%
Fried Chicken $1.18$1.4619.4%
Milk $1.96$2.3616.8%
Potatoes $2.86$3.066.6%
Pizza $8.99$9.242.7%
Beer $7.98$8.637.6%

Health Care

ItemMartinsvilleNational avg.Difference
Optometrist $84.30$99.7815.5%
Doctor $96.50$105.038.1%
Dentist $87.80$88.701.0%
Ibuprofen $8.69$9.417.7%
Lipitor $335.04$298.5012.2%

Housing

ItemMartinsvilleNational avg.Difference
Home Price $92,300.00$175,700.0047.5%
Avg. Mortgage Payment $821.91$1,081.0324.0%
Apartment Rent $677.00$920.0026.4%

Transportation

ItemMartinsvilleNational avg.Difference
Gasoline $2.01$2.093.9%
Tire Balancing $36.41$45.2919.6%

Utilities

ItemMartinsvilleNational avg.Difference
All Electricity$156.80$170.808.2%
Phone $25.68$28.269.1%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Stinesville, IN14978-22%
Paragon, IN68383-17%
Gosport, IN84883-17%
Morgantown, IN1,03384-16%
Bethany, IN10986-14%
Martinsville, IN11,75684-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Washington, IN11,75882-18%
Red Bank, TN11,75989-11%
Taylorville, IL11,76184-16%
Somersworth, NH11,76511515%
Rogers, MN11,74711717%
Martinsville, IN11,75684-16%
Source: The Martinsville, IN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.