Marion, VA


Highest Appreciating Marion Neighborhoods Since 2000

Marion, VA 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 5,957, 2,518 total housing units (homes and apartments), and a median house value of $89,764, house prices in Marion are some of the most affordable in Virginia as well as the nation.

Single-family detached homes are the single most common housing type in Marion, accounting for 68.85% of the town's housing units. Other types of housing that are prevalent in Marion include large apartment complexes or high rise apartments ( 15.06%), duplexes, homes converted to apartments or other small apartment buildings ( 13.12%), and a few mobile homes or trailers ( 2.11%).

The most prevalent building size and type in Marion are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 47.35% owning and 52.65% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Marion's housing was primarily built during this period, from the '40s through the '60s. A full 52.08% of the town's housing hails from this era. Other housing ages represented in Marion include homes built between 1970-1999 ( 34.70%) and housing constructed before 1939 ( 13.02%).

Vacant housing appears to be an issue in Marion. Fully 14.18% 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 -1.32%, which is lower than 70% of US communities.

Over the last year, Marion appreciation rates have trailed the rest of the nation. In the last twelve months, Marion's appreciation rate has been -5.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marion were at -1.60%, which equates to an annual appreciation rate of -6.23%.

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

Relative to Virginia, our data show that Marion's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.

Average Home Values


Median Home Value:


Value Range
> $932,000 0.8
$699,001 - $932,000 0.0
$466,001 - $699,000 2.7
$373,001 - $466,000 0.0
$280,001 - $373,000 4.4
$186,001 - $280,000 6.4
$93,001 - $186,000 26.0
$47,001 - $93,000 44.3
$0 - $47,000 15.6

Very Low for VA
Very Low for Nation

Value Relative to Nation Value Relative to State
84.1497714754483 92.2437673130194

Number Of Homes And Apartments:

Marion Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
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
26.37% 1.37% 1 3
* 10 is highest

Rent & Ownership


Average Market Rent:
$722 / per month

Homeownership Rate

Owners 47.35
Renters 52.65
Vacant 14.18

Housing Market Details


Age of Homes

2000 or Newer 0.2
1970 - 1999 34.7
1940 - 1969 52.1
1939 or Older 13.0

Types of Homes

Single-Family 68.8
Townhomes 0.9
Small Apt. Buildings 13.1
Apt. Complexes 15.1
Mobile Homes 2.1
Other 0.0

Home Size

No Bedroom 0.00
1 Bedroom 9.99
2 Bedrooms 33.84
3 Bedrooms 41.72
4 Bedrooms 11.21
5 or more bedrooms 3.24

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Zip Codes in Marion, VA