Martinsville, IN vs Richmond, IN

Richmond is moderately more affordable than Martinsville, with a 11.1% lower cost of living index. Martinsville scores 74 compared to 66 for Richmond, where the US average is 100. This difference means residents of Martinsville can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Martinsville is $952/month compared to $815/month in Richmond — a 17% difference. Home values follow the same pattern: Richmond is more affordable at $107,600 median vs $140,400.

Median household income in Martinsville is $56,186 compared to $46,395 in Richmond (+21.1%). While Martinsville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Martinsville spend roughly 20.3% of their income on rent, less than the 21.1% in Richmond.