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Martin Real Estate Market Facts

  • $125,700Median home price
    14% lower than Tennessee
  • $556Median rent asked
    29% lower than Tennessee
  • 49.0%Home owners
    26% lower than Tennessee
  • 2.2People per home
    13% lower than Tennessee
A general overview of the Martin, TN real estate market is displayed above. The median home price for homes in Martin, TN is $125,700, which is 14% lower than the Tennessee average. This means that real estate in the Martin, TN area is generally more affordable than the rest of Tennessee. The median rent price in Martin, TN is $556 which is 29% lower than the Tennessee average. In Martin, TN, 49.0% of people are home owners and an average of 2.2 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Martin, TN. We make it easy to find Martin, TN real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Martin Home Affordability

  • $125,700Median home price
    14% lower than Tennessee
  • $31,095Median home income
    33% lower than Tennessee
  • 4.0xHome price to income ratio
    29% higher than Tennessee
Home affordability can be a very important factor when determining where to purchase real estate in Martin, TN. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Martin, TN is $125,700 and the median household income is $31,095. This results in a home price to income ratio of 4.0x, which is 29% higher than the Tennessee average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Martin, TN are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Martin, TN.

Martin Affordability Calculator

Include PMI
You can afford a home up to:
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  • Income taxes
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When searching for real estate in Martin, TN, it is important to find a home that fits comfortably within your budget. The home affordability calculator allows you to determine what price of home in Martin, TN you can afford based on your income, debts and down payment. For an even more complete picture, you can add in further details such as: length of mortgage term, mortgage rate, property taxes, home insurance and HOA dues. This will estimate the costs of home ownership and display the home price that would fit within that budget. Knowing the price of home that you can afford in Martin, TN before you begin the house hunting process will keep you from getting too emotionally invested in homes that you may not be able to afford. The home affordability calculator will also allow you to balance your budget, so you know exactly how much will be spent on housing and how much you will have left over for any other living expenses and savings.

Martin Mortgage Calculator

Your monthly payment will be:
Monthly payment breakdown
  • Monthly payment
  • Mortgage
  • PMI fees
  • Property tax
  • Home insurance
  • HOA dues
What will my monthly costs be if I purchase Martin, TN real estate? There are many different variables that go into determining the monthly cost of a home. The biggest is obviously the home price. But after the actual price of the home you will also need to consider the down payment, loan term, interest rate, property taxes, home insurance, HOA dues and PMI (private mortgage insurance). PMI payments can be avoided for homeowners that are able to put 20% or more towards a down payment. The mortgage calculator has preset default values for these details, but they may be adjusted to give you a more accurate monthly payment estimate. Keep in mind that a good rule of thumb is to keep the DTI (debt-to-income) ratio to no more than 36 percent. This means that no more than 36 percent of gross monthly income should go to paying all debts.

Martin Demographics

  • 10,989Population
  • 886People / sq mile
  • 24.4Median age
  • 0.9:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Gleason, TN1,327$65,20065%
Sharon, TN978$65,20065%
Rives, TN248$65,40065%
Fulton, KY2,554$65,40065%
Greenfield, TN2,141$68,60063%
Martin, TN10,989$125,70032%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Crestwood, IL10,989$133,80028%
Leon Valley, TX10,990$147,00020%
Trophy Club, TX10,987$328,80078%
Canyon Lake, CA10,985$379,400105%
Browns Mills, NJ10,983$156,80015%
Martin, TN10,989$125,70032%
Source: The Martin, TN housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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