Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Marana | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $344,706 | $340,223 | $242,182 |
| Price Trend (Annual %) | 4.6% | 12.4% | 8.2% |
| Median Gross Rent | $1,686 | $1,430 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 6.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marana is about 1% higher than in Arizona. Rent is about 18% higher than the Arizona average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Marana, up about 4.6% and 5.1% a year respectively. Rent is changing faster.
Median rent in Marana rose about 39.7% between 2015 and 2023, from $1,207 to $1,686. Over the same span, rent in Arizona rose about 56.7%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Marana.
Buying the median-priced home in Marana costs roughly 17.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Marana. The price-to-rent ratio in Arizona is about 19.8.
| Metric | Marana | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $344,706 | $340,223 | $242,182 |
| Median Household Income | $101,905 | $77,100 | $78,145 |
| Price-to-Income Ratio | 3.4 | 4.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Marana rose about 59.5%, while median household income rose about 51.8% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Marana | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.7% | 59.6% | 58.2% |
| Rental Rate | 15.7% | 29.4% | 31.3% |
| Vacancy Rate | 6.6% | 11.0% | 10.6% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Marana has a homeownership rate of 77.7%, higher than the Arizona average of 59.6%. Its housing vacancy rate is 6.6%, compared with 11.0% in Arizona.
Housing Stock
| Metric | Marana | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.54 people | 2.54 people |
| Median Structure Built Year | 2005 | 1990 | 1978 |
| Median Number of Rooms | 6.1 | 5.3 | 5.5 |
The typical housing unit in Marana was built around 2005. On average, 2.6 people live in a home with about 6.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Marana, Arizona.
What is the median home price in Marana, Arizona?
The median home price in Marana, Arizona is $344,706, higher than the Arizona average of $340,223.
What is the average home price in Marana, Arizona?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Marana, Arizona?
The median gross rent in Marana, Arizona is $1,686 per month, higher than the Arizona average of $1,430.
What was the median gross rent in Marana in 2020?
In 2020, the median gross rent in Marana, Arizona was $1,291 per month.
What is the price-to-rent ratio in Marana, Arizona?
The price-to-rent ratio in Marana, Arizona is about 17.0, meaning it would take roughly 17.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Marana.
Are home prices or rent rising faster in Marana, Arizona?
Both home prices and rent are rising in Marana, up about 4.6% and 5.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Marana, Arizona?
77.7% of households in Marana, Arizona own their home, higher than the Arizona average of 59.6%.
What is the vacancy rate in Marana, Arizona?
The housing vacancy rate in Marana, Arizona is 6.6%, lower than the Arizona average of 11.0%.