Low Income Apartments and Affordable Housing For Rent in Martinsville, IN

Discover affordable housing in Martinsville where there are 8+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

The Retreat at Mineral Springs

110 N. Main St., Martinsville, Indiana 46151

Heather Heights Apartments

950 Cloverleaf Court, Martinsville, Indiana 46151

Morgan House I

490 N Main St, Martinsville, Indiana 46151

Morgan House II

470 N Main St, Martinsville, Indiana 46151

Ken-Mar Apartments

210 W Pike St, Martinsville, Indiana 46151

Pines Apartments of Martinsville

33 Pine Dr, Martinsville, Indiana 46151

Country View Apartments - 2

338 Country View Ct, Martinsville, Indiana 46151

308 Rogers Road

308 Rogers Rd, Martinsville, Indiana 46151

calendar_today Opened: Jul 14
Open Until Further Notice

Reported On January 11th, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Martinsville, Indiana
$25.55/hour
$18.30 (+252%) more than Indiana minimum wage and $18.30 (+252%) more than the Federal minimum wage.
Learn More About Martinsville, Indiana Affordable Housing ↓

What HUD offices serve Martinsville, Indiana?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Martinsville, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Martinsville.

How many renters live in Martinsville, Indiana?

The City of Martinsville has 11,916 people living in 4,438 households.

There are 4,196 renters living in 1,607 renter households in this City. Renters make up 35.21 percent of the population living in Martinsville.

What is the rental market like in Martinsville, Indiana?

There are an estimated 5,112 housing units in the Martinsville area. Of these, 1,821 units are rental homes, making up 36 percent of the housing market. For every renter household in Martinsville, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Martinsville?

The rental vacancy rate in Martinsville is 12 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Martinsville for each bedroom size?

Occupied Rental Units by Size in Martinsville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
8 325 815 383 35
Occupied Rental Units by Size in Martinsville

A large number of apartments in Martinsville have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Martinsville are overburdened by housing costs?

Among renter households in this market, 39 percent have housing cost burden. Further, 17 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Martinsville

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $982 to $2,126. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $982
One BR $1,145
Two BR $1,349
Three BR $1,758
Four BR $2,126
2024 Fair Market Rents in Martinsville, Indiana

How many units are rented at Fair Market Rent (FMR) in Martinsville?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 8 100 percent
One BR 312 96 percent
Two BR 683 84 percent
Rental Units Below FMR in Martinsville, Indiana

How many affordable rental units are in Martinsville?

There are a variety of federal affordable housing programs serving households in Martinsville, Indiana including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 92
Section 8 Project-Based Rental Assistance 250
USDA Section 515 Rural Rental Housing 32
Tracked Units by Federal Program in Martinsville, Indiana

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Martinsville, Indiana

Martinsville features 270 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Martinsville, Indiana

There are 140 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Martinsville.

Housing Choice Vouchers in Martinsville, Indiana

On average, Section 8 Housing Choice vouchers pay Martinsville landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Martinsville.

The maximum amount a voucher would pay on behalf of a low-income tenant in Martinsville, Indiana for a two-bedroom apartment is between $1,214 and $1,484.

Sourced from federal housing data and AffordableHousingOnline.com research.