Marion, Iowa Housing Market Prices
Marion Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 145% above the Iowa median$375,339
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Median rent 4% below the Iowa median$929
Housing Market Overview
| Metric | Marion | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $375,339 | $153,425 | $248,835 |
| Price Trend (Annual %) | 21.9% | 7.5% | 7.5% |
| Median Gross Rent | $929 | $971 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marion is about 145% higher than in Iowa. Rent is about 4% lower than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Marion, up about 21.9% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Marion rose about 35.5% between 2015 and 2024, from $686 to $929. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Marion.
Buying the median-priced home in Marion costs roughly 33.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Marion. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Marion | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $375,339 | $153,425 | $248,835 |
| Median Household Income | $88,036 | $75,133 | $80,455 |
| Price-to-Income Ratio | 4.3 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Marion rose about 250.5%, while median household income rose about 51.4% between 2009 and 2025 — 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 | Marion | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 73.9% | 65.6% | 58.5% |
| Rental Rate | 20.6% | 25.9% | 31.2% |
| Vacancy Rate | 5.4% | 8.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Marion has a homeownership rate of 73.9%, higher than the Iowa average of 65.6%. Its housing vacancy rate is 5.4%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Marion | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1984 | 1971 | 1978 |
| Median Number of Rooms | 6.4 | 5.9 | 5.5 |
The typical housing unit in Marion was built around 1984. On average, 2.4 people live in a home with about 6.4 rooms, staying for about 13.0 years on average.
Marion, IA Housing Compared With Nearby Cities
How Marion, IA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Marion, IA | 30,016 | $375,339 #1/2 | $929 #2/2 | 78.2% #1/2 |
| Cedar Rapids, IA | 120,968 | $207,540 | $960 | 66.9% |
Frequently Asked Questions
Common questions about the housing market in Marion, Iowa.
What is the median home price in Marion, Iowa?
The median home price in Marion, Iowa is $375,339, higher than the Iowa average of $153,425.
What is the average home price in Marion, Iowa?
The typical home price in Marion, Iowa, reported as the median sale price, is $375,339. 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 Marion, Iowa?
The median gross rent in Marion, Iowa is $929 per month, lower than the Iowa average of $971.
What was the median gross rent in Marion in 2020?
In 2020, the median gross rent in Marion, Iowa was $743 per month.
What is the price-to-rent ratio in Marion, Iowa?
The price-to-rent ratio in Marion, Iowa is about 33.7, meaning it would take roughly 33.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Marion.
Are home prices or rent rising faster in Marion, Iowa?
Both home prices and rent are rising in Marion, up about 21.9% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Marion, Iowa?
73.9% of households in Marion, Iowa own their home, higher than the Iowa average of 65.6%.
What is the vacancy rate in Marion, Iowa?
The housing vacancy rate in Marion, Iowa is 5.4%, lower than the Iowa average of 8.5%.
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