Marion, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Marion, AL Real Estate Data


Marion Housing Market Information

With 3,447 people, 902 houses or apartments, and a median cost of homes of $84,209, 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.

Marion Home Appreciation Rates

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 13.02%, which ranks in the top 30% nationwide. This equates to an annual average Marion house appreciation rate of 1.23%.

NeighborhoodScout's data show that during the latest twelve months, Marion's appreciation rate, at 4.42%, has been at or slightly above the national average. In the latest quarter, Marion's appreciation rate has been 0.14%, which annualizes to a rate of 0.57%.

Relative to Alabama, our data show that Marion's latest annual appreciation rate is higher than 70% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$84,209

Marion, AL HOME PRICES

Value Range
> $1,061,000 0.0
$795,001 - $1,061,000 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

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
87.7358490566038 70.0

Number Of Homes And Apartments:
902

Rent & Ownership

 

Average Market Rent:
$793 / per month

Homeownership Rate

Homeownership
Owners 52.15
Renters 47.85
Vacant 24.52

Housing Market Details

 

Age of Homes

AGE OF Marion HOMES
2000 or Newer 4.1
1970 - 1999 45.5
1940 - 1969 28.9
1939 or Older 21.5

Types of Homes

TYPE OF Marion HOMES
Single-Family 67.9
Townhomes 1.5
Small Apt. Buildings 9.7
Apt. Complexes 7.9
Mobile Homes 13.0
Other 0.0

Home Size

SIZE OF Marion HOMES
No Bedroom 6.44
1 Bedroom 5.86
2 Bedrooms 19.08
3 Bedrooms 54.98
4 Bedrooms 11.55
5 or more bedrooms 2.09

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
44.83% 2.17% 9 5
* 10 is highest

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