Mars, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Mars Neighborhoods Since 2000




Mars, PA 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

Mars Housing Market Information

With 1,658 people, 582 houses or apartments, and a median cost of homes of $290,200, 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 56.44% of the borough's housing units. Other types of housing that are prevalent in Mars include large apartment complexes or high rise apartments ( 25.15%), duplexes, homes converted to apartments or other small apartment buildings ( 17.48%).

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.

There is a lot of housing in Mars 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 Mars built before 1939 ( 33.44%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.92%). There's also some housing in Mars built between 2000 and later ( 7.06%).

Vacant housing appears to be an issue in Mars. Fully 10.74% 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

In the last 10 years, Mars has experienced some of the highest home appreciation rates of any community in the nation. Mars real estate appreciated 23.29% over the last ten years, which is an average annual home appreciation rate of 2.12%, putting Mars in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mars definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Mars's appreciation rate, at 4.74%, has been at or slightly above the national average. In the latest quarter, Mars's appreciation rate has been -0.41%, which annualizes to a rate of -1.65%.

Relative to Pennsylvania, our data show that Mars's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$290,200

Mars, PA HOME PRICES

Value Range
> $1,122,000 2.5
$841,001 - $1,122,000 2.0
$561,001 - $841,000 6.9
$449,001 - $561,000 10.3
$336,001 - $449,000 16.8
$224,001 - $336,000 22.7
$112,001 - $224,000 27.0
$56,001 - $112,000 8.8
$0 - $56,000 3.1

Very High for PA
Very High for Nation

Value Relative to Nation Value Relative to State
17.2418844486113 8.26086956521739

Number Of Homes And Apartments:
582

Mars Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
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
46.61% 2.24% 6 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,147 / per month

Homeownership Rate

Homeownership
Owners 52.23
Renters 47.77
Vacant 10.74

Housing Market Details

 

Age of Homes

AGE OF Mars HOMES
2000 or Newer 7.1
1970 - 1999 33.6
1940 - 1969 25.9
1939 or Older 33.4

Types of Homes

TYPE OF Mars HOMES
Single-Family 56.4
Townhomes 0.9
Small Apt. Buildings 17.5
Apt. Complexes 25.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Mars HOMES
No Bedroom 3.22
1 Bedroom 20.09
2 Bedrooms 35.89
3 Bedrooms 27.15
4 Bedrooms 12.12
5 or more bedrooms 1.53