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 33,391, 11,816 total housing units (homes and apartments), and a median house value of $128,267, house prices in Marrero are solidly below the national average.
Single-family detached homes are the single most common housing type in Marrero, accounting for 79.63% of the town's housing units. Other types of housing that are prevalent in Marrero include large apartment complexes or high rise apartments ( 7.73%), duplexes, homes converted to apartments or other small apartment buildings ( 5.91%), and a few row houses and other attached homes ( 4.72%).
The most prevalent building size and type in Marrero are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.73% owning and 36.27% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Marrero's housing was primarily built during this period, from the '40s through the '60s. A full 45.53% of the town's housing hails from this era. Other housing ages represented in Marrero include homes built between 1970-1999 ( 40.51%) and housing constructed between 2000 and later ( 9.54%). There's also some housing in Marrero built before 1939 ( 4.42%).
Vacant housing appears to be an issue in Marrero. Fully 10.51% of the housing stock is classified as vacant. Left unchecked, vacant Marrero homes and apartments can be a drag on the real estate market, holding Marrero 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.
Real estate appreciation rates in Marrero's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.80% during the period.
Over the last year, Marrero appreciation rates have trailed the rest of the nation. In the last twelve months, Marrero's appreciation rate has been 0.03%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marrero were at -1.40%, which equates to an annual appreciation rate of -5.49%.
Notably, Marrero's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Marrero's latest annual appreciation rate is lower than 60% of the other cities and towns in Louisiana.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Marrero differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Marrero - 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 Marrero real estate investment or home purchase decisions.
|$779,001 - $1,039,000||0.0|
|$520,001 - $779,000||0.1|
|$415,001 - $520,000||0.7|
|$312,001 - $415,000||1.1|
|$208,001 - $312,000||7.8|
|$104,001 - $208,000||63.1|
|$52,001 - $104,000||21.3|
|$0 - $52,000||5.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Marrero HOMES|
|2000 or Newer||9.5|
|1970 - 1999||40.5|
|1940 - 1969||45.5|
|1939 or Older||4.4|
|TYPE OF Marrero HOMES|
|Small Apt. Buildings||5.9|
|SIZE OF Marrero HOMES|
|5 or more bedrooms||1.42|