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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Marshall, MN 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Marshall, MN Housing Market Trends

With 13,680 people, 5,286 houses or apartments, and a median cost of homes of $213,289, house prices in Marshall are solidly below the national average.

Single-family detached homes are the single most common housing type in Marshall, accounting for 56.58% of the city's housing units. Other types of housing that are prevalent in Marshall include large apartment complexes or high rise apartments ( 25.72%), duplexes, homes converted to apartments or other small apartment buildings ( 12.15%), and a few row houses and other attached homes ( 3.82%).

The most prevalent building size and type in Marshall are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.92% owning and 48.08% renting.

There is a lot of housing in Marshall 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 Marshall built between 1940-1969 ( 29.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.30%). There's also some housing in Marshall built before 1939 ( 10.22%).

Vacant housing appears to be an issue in Marshall. Fully 11.90% of the housing stock is classified as vacant. Left unchecked, vacant Marshall homes and apartments can be a drag on the real estate market, holding Marshall 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.

Marshall Home Appreciation Rates

Marshall's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Marshall during the period has been just 4.26%, which is lower than 80% of US communities.

Over the last year, Marshall appreciation rates have trailed the rest of the nation. In the last twelve months, Marshall's appreciation rate has been 2.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marshall were at 3.08%, which equates to an annual appreciation rate of 12.89%.

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

Average Home Values

Median Home Value

$213,289

Marshall, MN Home Prices
> $1,243,000
$933,001 - $1,243,000
$622,001 - $933,000
$497,001 - $622,000
$373,001 - $497,000
$249,001 - $373,000
$124,001 - $249,000
$62,001 - $124,000
$0 - $62,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
3.6%
3.6%
5.7%
5.7%
24.2%
24.2%
49.5%
49.5%
11.3%
11.3%
5.6%
5.6%
0% 100.0%
% of Homes
Low

for Minnesota

Average

for nation

Number of Homes And Apartments:

5,286

Marshall Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,232 / per month

Homeownership Rate

Owners
Renters
Vacant
51.9%
51.9%
48.1%
48.1%
11.9%
11.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.3%
12.3%
47.8%
47.8%
29.7%
29.7%
10.2%
10.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
56.6%
56.6%
3.8%
3.8%
12.2%
12.2%
25.7%
25.7%
1.7%
1.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
11.6%
11.6%
30.9%
30.9%
29.0%
29.0%
18.3%
18.3%
9.4%
9.4%
0% 100.0%
% of Homes

Zip Codes in Marshall, MN