Marion, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Marion Neighborhoods Since 2000




Marion, IA Real Estate Data


Marion Housing Market Information

With 37,330 people, 14,590 houses or apartments, and a median cost of homes of $167,554, Marion real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Marion, accounting for 60.50% of the city's housing units. Other types of housing that are prevalent in Marion include large apartment complexes or high rise apartments ( 16.38%), row houses and other attached homes ( 9.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.06%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Marion. Owner-occupied housing accounts for 74.66% of Marion's homes, and 61.17% have either three or four bedrooms, which is average sized relative to America.

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 2000 and later ( 26.41%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.44%). There's also some housing in Marion built before 1939 ( 7.80%).

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 7.05%, which ranks in the top 50% nationwide. This equates to an annual average Marion house appreciation rate of 0.68%.

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 3.70%, 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 1.01%, which equates to an annual appreciation rate of 4.09%.

Notably, Marion's appreciation rate in the latest quarter is one of the lowest in America.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Marion differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Marion - 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 2000, to assist you in making the best Marion real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$167,554

Marion, IA HOME PRICES

Value Range
> $1,060,000 0.4
$795,001 - $1,060,000 0.1
$530,001 - $795,000 1.1
$424,001 - $530,000 1.5
$318,001 - $424,000 4.4
$212,001 - $318,000 20.2
$106,001 - $212,000 54.5
$53,001 - $106,000 10.3
$0 - $53,000 7.5

High for IA
Average for Nation

Value Relative to Nation Value Relative to State
43.6961995666686 23.9506172839506

Number Of Homes And Apartments:
14,590

Rent & Ownership

 

Average Market Rent:
$937 / per month

Homeownership Rate

Homeownership
Owners 74.66
Renters 25.34
Vacant 4.94

Housing Market Details

 

Age of Homes

AGE OF Marion HOMES
2000 or Newer 26.4
1970 - 1999 43.3
1940 - 1969 22.4
1939 or Older 7.8

Types of Homes

TYPE OF Marion HOMES
Single-Family 60.5
Townhomes 9.5
Small Apt. Buildings 7.1
Apt. Complexes 16.4
Mobile Homes 6.6
Other 0.0

Home Size

SIZE OF Marion HOMES
No Bedroom 2.02
1 Bedroom 10.18
2 Bedrooms 22.59
3 Bedrooms 43.53
4 Bedrooms 17.64
5 or more bedrooms 4.04

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
25.02% 1.32% 1 2
* 10 is highest