Marion, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Marion, OH Real Estate Data


Marion Housing Market Information

With 36,363 people, 12,536 houses or apartments, and a median cost of homes of $85,251, house prices in Marion are some of the most affordable in Ohio as well as the nation.

Single-family detached homes are the single most common housing type in Marion, accounting for 73.15% of the city's housing units. Other types of housing that are prevalent in Marion include duplexes, homes converted to apartments or other small apartment buildings ( 13.08%), large apartment complexes or high rise apartments ( 10.24%), and a few row houses and other attached homes ( 1.78%).

The most prevalent building size and type in Marion are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.23% owning and 51.77% renting.

The housing in Marion was primarily built before 1939 ( 41.50%), making the housing stock in Marion some of the oldest overall in America, although there is a range of ages of homes in Marion. The next most important housing age is between 1940-1969 ( 33.25%), followed by between 1970-1999 ( 20.87%). There's also some housing in Marion built between 2000 and later ( 4.38%).

Vacant housing appears to be an issue in Marion. Fully 15.30% 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

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 -1.29%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Marion's appreciation rate, at 4.54%, has been at or slightly above the national average. In the latest quarter, Marion's appreciation rate has been 1.15%, which annualizes to a rate of 4.69%.

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

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:
$85,251

Marion, OH HOME PRICES

Value Range
> $1,071,000 0.1
$803,001 - $1,071,000 0.3
$535,001 - $803,000 0.3
$428,001 - $535,000 0.0
$321,001 - $428,000 0.5
$214,001 - $321,000 3.1
$107,001 - $214,000 19.3
$53,001 - $107,000 52.4
$0 - $53,000 24.0

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
88.2824852140306 93.5695538057743

Number Of Homes And Apartments:
12,536

Rent & Ownership

 

Average Market Rent:
$805 / per month

Homeownership Rate

Homeownership
Owners 48.23
Renters 51.77
Vacant 15.30

Housing Market Details

 

Age of Homes

AGE OF Marion HOMES
2000 or Newer 4.4
1970 - 1999 20.9
1940 - 1969 33.2
1939 or Older 41.5

Types of Homes

TYPE OF Marion HOMES
Single-Family 73.2
Townhomes 1.8
Small Apt. Buildings 13.1
Apt. Complexes 10.2
Mobile Homes 1.7
Other 0.1

Home Size

SIZE OF Marion HOMES
No Bedroom 3.13
1 Bedroom 10.79
2 Bedrooms 25.30
3 Bedrooms 47.08
4 Bedrooms 12.11
5 or more bedrooms 1.59

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
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
-5.26% -0.32% 1 1
* 10 is highest