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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.



Mars, PA 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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Mars, PA Housing Market Trends

With 1,430 people, 574 houses or apartments, and a median cost of homes of $501,845, Mars real estate is some of the most expensive in Pennsylvania, although Mars home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Mars, accounting for 52.26% of the borough's housing units. Other types of housing that are prevalent in Mars include large apartment complexes or high rise apartments ( 30.33%), duplexes, homes converted to apartments or other small apartment buildings ( 16.80%).

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

The housing in Mars was primarily built before 1939 ( 43.55%), making the housing stock in Mars some of the oldest overall in America, although there is a range of ages of homes in Mars. The next most important housing age is between 1970-1999 ( 33.44%), followed by between 1940-1969 ( 19.60%). There's also some housing in Mars built between 2000 and later ( 3.42%).

Vacant housing appears to be an issue in Mars. Fully 10.73% of the housing stock is classified as vacant. Left unchecked, vacant Mars homes and apartments can be a drag on the real estate market, holding Mars 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.

Mars Home Appreciation Rates

Mars's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mars during the period has been just 4.41%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Mars's appreciation rate, at 5.71%, has been at or slightly above the national average. In the latest quarter, Mars's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to Pennsylvania, our data show that Mars's latest annual appreciation rate is lower than 50% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$501,845

Mars, PA Home Prices
> $1,241,000
$931,001 - $1,241,000
$620,001 - $931,000
$497,001 - $620,000
$372,001 - $497,000
$248,001 - $372,000
$124,001 - $248,000
$62,001 - $124,000
$0 - $62,000
7.6%
7.6%
6.5%
6.5%
23.2%
23.2%
10.6%
10.6%
7.9%
7.9%
23.5%
23.5%
13.9%
13.9%
3.4%
3.4%
3.4%
3.4%
0% 100.0%
% of Homes
Very High

for Pennsylvania

Very High

for nation

Number of Homes And Apartments:

574

Mars Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,343 / per month

Homeownership Rate

Owners
Renters
48.6%
48.6%
51.4%
51.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.7%
10.7%
89.3%
89.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.4%
3.4%
33.4%
33.4%
19.6%
19.6%
43.5%
43.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
52.3%
52.3%
0.6%
0.6%
16.8%
16.8%
30.3%
30.3%
0.0%
0.0%
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
1.7%
1.7%
26.6%
26.6%
23.5%
23.5%
32.3%
32.3%
13.7%
13.7%
2.2%
2.2%
0% 100.0%
% of Homes