Marion, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Marion Neighborhoods Since 2000




Marion, NC Real Estate Data


Marion Housing Market Information

With 7,861 people, 2,817 houses or apartments, and a median cost of homes of $105,945, house prices in Marion are solidly below the national average.

Single-family detached homes are the single most common housing type in Marion, accounting for 62.79% of the city's housing units. Other types of housing that are prevalent in Marion include large apartment complexes or high rise apartments ( 15.91%), mobile homes or trailers ( 12.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.96%).

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

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. Marion's housing was primarily built during this period, from the '40s through the '60s. A full 41.64% of the city's housing hails from this era. Other housing ages represented in Marion include homes built between 1970-1999 ( 32.26%) and housing constructed before 1939 ( 20.53%). There's also some housing in Marion built between 2000 and later ( 5.57%).

Vacant housing appears to be an issue in Marion. Fully 13.30% of the housing stock is classified as vacant. Left unchecked, vacant Marion homes and apartments can be a drag on the real estate market, holding Marion 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.

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 4.06%, which ranks in the top 50% nationwide. This equates to an annual average Marion house appreciation rate of 0.40%.

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 4.31%, 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 0.99%, which equates to an annual appreciation rate of 4.04%.

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

Relative to North Carolina, our data show that Marion's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.

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:
$105,945

Marion, NC HOME PRICES

Value Range
> $1,073,000 0.3
$805,001 - $1,073,000 1.0
$537,001 - $805,000 0.5
$429,001 - $537,000 0.6
$322,001 - $429,000 3.2
$215,001 - $322,000 7.9
$108,001 - $215,000 29.7
$54,001 - $108,000 38.6
$0 - $54,000 18.4

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
75.0190314458043 75.8620689655172

Number Of Homes And Apartments:
2,817

Rent & Ownership

 

Average Market Rent:
$677 / per month

Homeownership Rate

Homeownership
Owners 47.81
Renters 52.19
Vacant 13.30

Housing Market Details

 

Age of Homes

AGE OF Marion HOMES
2000 or Newer 5.6
1970 - 1999 32.3
1940 - 1969 41.6
1939 or Older 20.5

Types of Homes

TYPE OF Marion HOMES
Single-Family 62.8
Townhomes 3.3
Small Apt. Buildings 5.0
Apt. Complexes 15.9
Mobile Homes 12.7
Other 0.3

Home Size

SIZE OF Marion HOMES
No Bedroom 1.94
1 Bedroom 10.53
2 Bedrooms 40.44
3 Bedrooms 32.56
4 Bedrooms 13.11
5 or more bedrooms 1.42

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
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
28.71% 1.50% 6 3
* 10 is highest