Marquette, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Marquette Neighborhoods Since 2000




Marquette, MI Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Marquette Housing Market Information

With a population of 21,297, 7,852 total housing units (homes and apartments), and a median house value of $173,875, Marquette 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 Marquette, accounting for 53.87% of the city's housing units. Other types of housing that are prevalent in Marquette include large apartment complexes or high rise apartments ( 26.97%), duplexes, homes converted to apartments or other small apartment buildings ( 15.51%), and a few mobile homes or trailers ( 1.82%).

People in Marquette primarily live in small (one, two or no bedroom) single-family detached homes. Marquette has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Marquette 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 Marquette built before 1939 ( 31.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 29.77%). There's also some housing in Marquette built between 2000 and later ( 6.67%).

Marquette Home Appreciation Rates

In the last 10 years, Marquette has experienced some of the highest home appreciation rates of any community in the nation. Marquette real estate appreciated 18.27% over the last ten years, which is an average annual home appreciation rate of 1.69%, putting Marquette in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Marquette definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Marquette's appreciation rate, at 3.51%, has been at or slightly above the national average. In the latest quarter, Marquette's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

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

Average Home Values

 

Median Home Value:
$173,875

Marquette, MI HOME PRICES

Value Range
> $1,098,000 0.4
$824,001 - $1,098,000 0.6
$549,001 - $824,000 1.3
$439,001 - $549,000 2.5
$330,001 - $439,000 5.9
$220,001 - $330,000 19.0
$110,001 - $220,000 53.0
$55,001 - $110,000 10.6
$0 - $55,000 6.8

High for MI
Average for Nation

Value Relative to Nation Value Relative to State
40.2964959568733 24.3589743589744

Number Of Homes And Apartments:
7,852

Marquette Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
73.48% 3.25% 10 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$866 / per month

Homeownership Rate

Homeownership
Owners 37.45
Renters 62.55
Vacant 10.00

Housing Market Details

 

Age of Homes

AGE OF Marquette HOMES
2000 or Newer 6.7
1970 - 1999 32.5
1940 - 1969 29.8
1939 or Older 31.1

Types of Homes

TYPE OF Marquette HOMES
Single-Family 53.9
Townhomes 1.7
Small Apt. Buildings 15.5
Apt. Complexes 27.0
Mobile Homes 1.8
Other 0.1

Home Size

SIZE OF Marquette HOMES
No Bedroom 2.30
1 Bedroom 25.21
2 Bedrooms 28.47
3 Bedrooms 29.84
4 Bedrooms 11.86
5 or more bedrooms 2.32