Marion SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Marion, SC 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (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 6,427, 2,262 total housing units (homes and apartments), and a median house value of $90,364, 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 70.67% 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 ( 19.92%), mobile homes or trailers ( 3.68%), and a few large apartment complexes or high rise apartments ( 3.40%).

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 56.43% owning and 43.57% renting.

There is a lot of housing in Marion 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 Marion built between 1940-1969 ( 30.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.22%). There's also some housing in Marion built before 1939 ( 7.19%).

Vacant housing appears to be an issue in Marion. Fully 21.49% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Marion, where house values have increased just 5.39%, which is annualized rate of 0.53%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Marion that despite a nationwide downturn in the housing market, Marion real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Marion appreciation rates continue to be some of the highest in America, at 7.38%, which is higher than appreciation rates in 92.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Marion. Marion appreciation rates in the latest quarter were at 1.38%, which equates to an annual appreciation rate of 5.63%.

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

Average Home Values

 

Median Home Value:
$90,364

Marion, SC HOME PRICES

Value Range
> $1,123,000 0.0
$842,001 - $1,123,000 0.0
$562,001 - $842,000 1.4
$449,001 - $562,000 0.0
$337,001 - $449,000 0.7
$225,001 - $337,000 5.9
$112,001 - $225,000 32.4
$56,001 - $112,000 33.9
$0 - $56,000 25.6

Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
90.458394160584 78.5185185185185

Number Of Homes And Apartments:
2,262

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
21.14% 0.94%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$808 / per month

Homeownership Rate

Homeownership
Owners 56.43
Renters 43.57
Vacant 21.49

Housing Market Details

 

Age of Homes

AGE OF Marion HOMES
2000 or Newer 7.2
1970 - 1999 54.9
1940 - 1969 30.7
1939 or Older 7.2

Types of Homes

TYPE OF Marion HOMES
Single-Family 70.7
Townhomes 2.3
Small Apt. Buildings 19.9
Apt. Complexes 3.4
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Marion HOMES
No Bedroom 6.28
1 Bedroom 4.93
2 Bedrooms 19.19
3 Bedrooms 57.31
4 Bedrooms 12.29
5 or more bedrooms 0.00