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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Marion County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,579 | $136,017 | $242,182 |
| Price Trend (Annual %) | 7.3% | 5.0% | 8.2% |
| Median Gross Rent | $813 | $995 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marion County is about 3% lower than in Missouri. Rent is about 18% lower than the Missouri 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 Marion County, up about 7.3% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Marion County rose about 34.2% between 2015 and 2023, from $606 to $813. Over the same span, rent in Missouri rose about 33.6%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Marion County.
Buying the median-priced home in Marion County costs roughly 13.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Marion County. The price-to-rent ratio in Missouri is about 11.4.
| Metric | Marion County | Missouri Avg | US Average |
|---|---|---|---|
| Median Home Price | $131,579 | $136,017 | $242,182 |
| Median Household Income | $64,433 | $69,051 | $78,145 |
| Price-to-Income Ratio | 2.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Marion County rose about 53.7%, while median household income rose about 65.4% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Marion County | Missouri Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.0% | 60.1% | 58.2% |
| Rental Rate | 26.4% | 28.4% | 31.3% |
| Vacancy Rate | 12.7% | 11.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Marion County has a homeownership rate of 61.0%, higher than the Missouri average of 60.1%. Its housing vacancy rate is 12.7%, compared with 11.6% in Missouri.
Housing Stock
| Metric | Marion County | Missouri Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.42 people | 2.54 people |
| Median Structure Built Year | 1968 | 1977 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Marion County was built around 1968. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Marion County, Missouri.
What is the median home price in Marion County, Missouri?
The median home price in Marion County, Missouri is $131,579, lower than the Missouri average of $136,017.
What is the average home price in Marion County, Missouri?
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 Marion County, Missouri?
The median gross rent in Marion County, Missouri is $813 per month, lower than the Missouri average of $995.
What was the median gross rent in Marion County in 2020?
In 2020, the median gross rent in Marion County, Missouri was $644 per month.
What is the price-to-rent ratio in Marion County, Missouri?
The price-to-rent ratio in Marion County, Missouri is about 13.5, meaning it would take roughly 13.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Marion County.
Are home prices or rent rising faster in Marion County, Missouri?
Both home prices and rent are rising in Marion County, up about 7.3% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Marion County, Missouri?
61.0% of households in Marion County, Missouri own their home, higher than the Missouri average of 60.1%.
What is the vacancy rate in Marion County, Missouri?
The housing vacancy rate in Marion County, Missouri is 12.7%, higher than the Missouri average of 11.6%.