Total monthly cost of ownership
Cost to Own a Home in Martinsville, Illinois
A $74,000 home here costs
$855per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $380. The real number is $474 higher every month — 125% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Martinsville against Clark County and Illinois
| Measure | Martinsville | Clark County |
|---|---|---|
| Median home value | $73,600 | $123,100 |
| Median property tax | $1,208 | $2,073 |
| Effective tax rate | 1.641% | 1.684% |
| Median gross rent | $588 | $828 |
| Population | 1,212 | 15,328 |
The weather behind that power bill
Martinsville sits in Clark County, which averages a high of 87.7°F in its hottest month and a low of 19.3°F in its coldest, with 45.54" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,228 cooling and 5,173 heating degree days, which is what sets the $214 electricity line above.
See the full climate breakdown for Clark County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clark County
Common questions
How much does it cost to own a home in Martinsville?
A $74,000 home in Martinsville, Illinois costs approximately $855 per month with 20% down at 6.66%. That is $380 principal and interest, $101 property tax, $29 homeowners insurance, $282 utilities and $62 set aside for maintenance.
What is the property tax rate in Martinsville?
Martinsville has an effective property tax rate of 1.641%, based on a median home value of $73,600 and median real estate taxes of $1,208. That is lower than the Clark County average of 1.684%.
What is the average home price in Martinsville?
The median owner-occupied home value in Martinsville, Illinois is $73,600, against $123,100 across Clark County.
Is it cheaper to rent or buy in Martinsville?
Median gross rent in Martinsville is $588 a month, against $855 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Martinsville — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Illinois.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.