Marana appreciation rates and housing market information

Marana housing market information

With a population of 13,443, 5,658 total housing units (homes and apartments), and a median house value of $261,970, Marana real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Marana, accounting for 74.51% of the town's housing units. Other types of housing that are prevalent in Marana include large apartment complexes or high rise apartments (9.99%), mobile homes or trailers (8.93%), row houses and other attached homes (2.83%), and a few duplexes, homes converted to apartments, or other small apartment buildings (0.55%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Marana. Owner-occupied housing accounts for 72.18% of Marana's homes, and 61.45% have either three or four bedrooms, which is average sized relative to America.

Marana homes and real estate are some of the newest in America. 65.13% of Marana's housing was built since 1995, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Marana real estate market has to offer. Quit a bit of the housing here was also built between 1970-1994 (29.64%), and 1940-1969 (4.81%).

Vacant housing appears to be an issue in Marana. Fully 13.54% of the housing stock is classified as vacant. Left unchecked, vacant Marana homes and apartments can be a drag on the real estate market, holding Marana real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Marana home appreciation rates

In the last 10 years, Marana has experienced some of the highest home appreciation rates of any community in the nation. Marana real estate appreciated 180.30% over the last ten years, which is an average annual home appreciation rate of 18.03%, putting Marana in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Marana definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Marana home appreciation rates, at -0.06%, have been at or slightly above the national average. In the latest quarter, Marana's appreciation rate has been 1.86%, which annualizes to a rate of 7.44%.

Importantly, this makes Marana one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Arizona, our data show that Marana's latest annual appreciation rate is higher than 88% of the other cities and towns in Arizona.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Marana differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Marana - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Marana real estate investment or home purchase decisions.