Marion, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Marion Neighborhoods Since 2000




Marion, OH 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

Marion Housing Market Information

With a population of 36,363, 12,586 total housing units (homes and apartments), and a median house value of $76,663, 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 73.10% 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 ( 12.76%), large apartment complexes or high rise apartments ( 10.65%), and a few row houses and other attached homes ( 1.99%).

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 47.54% owning and 52.46% renting.

The housing in Marion was primarily built before 1939 ( 41.10%), 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 ( 34.22%), followed by between 1970-1999 ( 20.16%). There's also some housing in Marion built between 2000 and later ( 4.52%).

Vacant housing appears to be an issue in Marion. Fully 15.07% 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 -0.97%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Marion's appreciation rate, at 4.78%, has been at or slightly above the national average. In the latest quarter, Marion's appreciation rate has been -0.60%, which annualizes to a rate of -2.39%.

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

Relative to Ohio, our data show that Marion's latest annual appreciation rate is higher than 70% 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:
$76,663

Marion, OH HOME PRICES

Value Range
> $1,098,000 0.1
$824,001 - $1,098,000 0.3
$549,001 - $824,000 0.2
$439,001 - $549,000 0.1
$329,001 - $439,000 0.3
$220,001 - $329,000 3.4
$110,001 - $220,000 18.0
$55,001 - $110,000 52.3
$0 - $55,000 25.3

Very Low for OH
Very Low for Nation

Value Relative to Nation Value Relative to State
92.3707957342084 94.6194225721785

Number Of Homes And Apartments:
12,586

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
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
-3.29% -0.19% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$846 / per month

Homeownership Rate

Homeownership
Owners 47.54
Renters 52.46
Vacant 15.07

Housing Market Details

 

Age of Homes

AGE OF Marion HOMES
2000 or Newer 4.5
1970 - 1999 20.2
1940 - 1969 34.2
1939 or Older 41.1

Types of Homes

TYPE OF Marion HOMES
Single-Family 73.1
Townhomes 2.0
Small Apt. Buildings 12.8
Apt. Complexes 10.6
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF Marion HOMES
No Bedroom 3.81
1 Bedroom 9.50
2 Bedrooms 26.10
3 Bedrooms 46.40
4 Bedrooms 12.89
5 or more bedrooms 1.30