The typical owner-occupied home in Martinsburg is worth about $60,000, 71% below the Iowa median of $208,000 and 82% below the national median of $332,700. Owners pay a median $725 a year in property taxes, about 1.21% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $55,000 a year, so the median home costs 1.1 times the median income (2.8 times for Iowa). 85% of occupied homes here are lived in by their owners, and 15% of those owners still have a mortgage.
Martinsburg at a glance
| Martinsburg | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $60,000 | $208,000 | $332,700 |
| Median property tax paid per year | $725 | $2,897 | $3,119 |
| Property tax as a share of value | 1.21% | 1.39% | 0.94% |
| Median household income | $55,000 | $75,059 | $80,734 |
| Homes lived in by their owners | 85% | 72% | 65% |
| Owner homes with a mortgage | 15% | 59% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,533 | $1,963 |
| Median rent | – | $972 | $1,413 |
| Rent as a share of renters' income | 10.0% | 27.4% | 30.6% |
| Median year homes were built | 1963 | 1972 | 1980 |
| Vacant homes | 2.4% | 8.5% | 10.1% |
| Population | 101 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Martinsburg
At this week's average 30-year rate of 7.11%, buying the median Martinsburg home of $60,000 with 20% down costs about $408 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $508, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $17,503 for the 20%-down payment. That payment is 9% of the median Martinsburg household income of $55,000; at that income and 20% down, the 28% guideline points to a home of about $189,000.
| Down payment | $12,000 |
|---|---|
| Loan amount | $48,000 |
| Principal and interest | $323 |
| Property taxes (1.21% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| PMI | $0 |
| Total per month | $408 |
Change the numbers in the calculator
| Down payment | $2,100 |
|---|---|
| Loan amount | $58,913 |
| Principal and interest | $396 |
| Property taxes (1.21% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| FHA mortgage insurance | $27 |
| Total per month | $508 |
Change the numbers in the calculator
Questions about home buying in Martinsburg
What is the median home value in Martinsburg?
About $60,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Martinsburg?
Homeowners pay a median $725 a year, which is about 1.21% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Martinsburg?
For the median home with 20% down at 7.11%, the payment is about $408 a month. Keeping that under 28% of gross income takes about $17,503 a year.
More about Martinsburg
- Mortgage Refinance in Martinsburg
- Debt Relief in Martinsburg
- Home Equity Loans in Martinsburg
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data