Martinsburg was laid out in 1874. It was named for its founder, Jonathan Martin. A post office was established at Martinsburg in 1880, and remained in operation until it was discontinued in 1967.
As of the census of 2010, there were 94 people, 38 households, and 27 families residing in the village. The population density was. There were 41 housing units at an average density of. The racial makeup of the village was 97.9% White, 1.1% Asian, and 1.1% from two or more races. Hispanic or Latino of any race were 3.2% of the population. There were 38 households of which 36.8% had children under the age of 18 living with them, 55.3% were married couplesliving together, 15.8% had a female householder with no husband present, and 28.9% were non-families. 28.9% of all households were made up of individuals and 15.8% had someone living alone who was 65 years of age or older. The average household size was 2.47 and the average family size was 3.04. The median age in the village was 45.5 years. 28.7% of residents were under the age of 18; 4.3% were between the ages of 18 and 24; 16.9% were from 25 to 44; 37.2% were from 45 to 64; and 12.8% were 65 years of age or older. The gender makeup of the village was 41.5% male and 58.5% female.
At the 2000 census, there were 103 people, 39 households and 26 families residing in the village. The population density was 996.6 per square mile. There were 40 housing units at an average density of 387.0 per square mile. The racial makeup of the village was 99.03% White, and 0.97% from two or more races. Hispanic or Latino of any race were 1.94% of the population. There were 39 households of which 38.5% had children under the age of 18 living with them, 59.0% were married couples living together, 2.6% had a female householder with no husband present, and 30.8% were non-families. 30.8% of all households were made up of individuals and 20.5% had someone living alone who was 65 years of age or older. The average household size was 2.64 and the average family size was 3.37. 32.0% of the population were under the age of 18, 5.8% from 18 to 24, 23.3% from 25 to 44, 20.4% from 45 to 64, and 18.4% who were 65 years of age or older. The median age was 40 years. For every 100 females, there were 87.3 males. For every 100 females age 18 and over, there were 84.2 males. As of 2000 the median income for a household was $38,333 and the median family income was $40,938. Males had a median income of $26,750 versus $17,917 for females. The per capita income for the village was $11,750. There were no families and 5.8% of the population living below the poverty line, including no under eighteens and 57.1% of those over 64.
