Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 3,447, 902 total housing units (homes and apartments), and a median house value of $84,173, house prices in Marion are solidly below the national average.
Single-family detached homes are the single most common housing type in Marion, accounting for 67.87% of the city's housing units. Other types of housing that are prevalent in Marion include mobile homes or trailers ( 12.97%), duplexes, homes converted to apartments or other small apartment buildings ( 9.71%), and a few large apartment complexes or high rise apartments ( 7.95%).
The most prevalent building size and type in Marion are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.15% owning and 47.85% renting.
There is a lot of housing in Marion built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Marion built between 1940-1969 ( 28.87%). A lesser amount of the housing stock also hails from before 1939 ( 21.51%). There's also some housing in Marion built between 2000 and later ( 4.10%).
Vacant housing appears to be an issue in Marion. Fully 24.52% of the housing stock is classified as vacant. Left unchecked, vacant Marion homes and apartments can be a drag on the real estate market, holding Marion 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.
Appreciation rates for homes in Marion have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.03%, which ranks in the top 40% nationwide. This equates to an annual average Marion house appreciation rate of 0.87%.
Over the last year, Marion appreciation rates have trailed the rest of the nation. In the last twelve months, Marion's appreciation rate has been 2.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marion were at -0.55%, which equates to an annual appreciation rate of -2.17%.
Notably, Marion's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Alabama, our data show that Marion's latest annual appreciation rate is lower than 50% of the other cities and towns in Alabama.
|$795,001 - $1,060,000||0.0|
|$530,001 - $795,000||0.0|
|$424,001 - $530,000||2.8|
|$318,001 - $424,000||1.0|
|$212,001 - $318,000||9.5|
|$106,001 - $212,000||20.4|
|$53,001 - $106,000||39.8|
|$0 - $53,000||26.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Marion HOMES|
|2000 or Newer||4.1|
|1970 - 1999||45.5|
|1940 - 1969||28.9|
|1939 or Older||21.5|
|TYPE OF Marion HOMES|
|Small Apt. Buildings||9.7|
|SIZE OF Marion HOMES|
|5 or more bedrooms||2.09|