Marion, IA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Marion, IA Housing Market Trends

With a population of 40,359, 15,909 total housing units (homes and apartments), and a median house value of $196,831, 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 63.69% of the city's housing units. Other types of housing that are prevalent in Marion include large apartment complexes or high rise apartments ( 13.92%), row houses and other attached homes ( 10.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.02%).

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 77.18% of Marion's homes, and 60.38% 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 ( 35.38%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.93%). There's also some housing in Marion built before 1939 ( 5.85%).

Marion Home Appreciation Rates

Marion's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Marion during the period has been just 1.65%, which is lower than 70% of US communities.

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 2.56%, 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 2.23%.

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 80% 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:
$196,831

Marion, IA HOME PRICES

> $1,097,000
0.4%
0.4%
$823,001 - $1,097,000
0.2%
0.2%
$549,001 - $823,000
1.7%
1.7%
$439,001 - $549,000
2.6%
2.6%
$329,001 - $439,000
6.5%
6.5%
$219,001 - $329,000
23.5%
23.5%
$110,001 - $219,000
50.8%
50.8%
$55,001 - $110,000
8.0%
8.0%
$0 - $55,000
6.3%
6.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for IA

Value Relative To Nation

Number Of Homes And Apartments:
15,909

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
38.39% 1.56%
1
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$969 / per month

Homeownership Rate

Owners
77.2%
77.2%
Renters
22.8%
22.8%
Vacant
5.5%
5.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
35.4%
35.4%
1970 - 1999
35.8%
35.8%
1940 - 1969
22.9%
22.9%
1939 or Older
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.7%
63.7%
Townhomes
10.4%
10.4%
Small Apt. Buildings
6.0%
6.0%
Apt. Complexes
13.9%
13.9%
Mobile Homes
6.0%
6.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
7.2%
7.2%
2 Bedrooms
22.2%
22.2%
3 Bedrooms
40.6%
40.6%
4 Bedrooms
19.8%
19.8%
5 or more bedrooms
8.9%
8.9%
0.0% 100.0%
% OF HOMES