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 | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $247,221 | $248,418 | $242,182 |
| Price Trend (Annual %) | 21.4% | 9.9% | 8.2% |
| Median Gross Rent | $853 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marion County is about the same as in Texas. Rent is about 36% lower than the Texas 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 21.4% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Marion County rose about 43.8% between 2015 and 2023, from $593 to $853. Over the same span, rent in Texas rose about 51.9%.
Affordability
On average, housing unit costs 5.1 yearly household incomes in Marion County.
Buying the median-priced home in Marion County costs roughly 24.1 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 County. The price-to-rent ratio in Texas is about 15.5.
| Metric | Marion County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $247,221 | $248,418 | $242,182 |
| Median Household Income | $48,093 | $76,510 | $78,145 |
| Price-to-Income Ratio | 5.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Marion County rose about 112.1%, while median household income rose about 58.3% 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 | Marion County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.9% | 56.5% | 58.2% |
| Rental Rate | 17.0% | 33.8% | 31.3% |
| Vacancy Rate | 25.1% | 9.6% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Marion County has a homeownership rate of 57.9%, higher than the Texas average of 56.5%. Its housing vacancy rate is 25.1%, compared with 9.6% in Texas.
Housing Stock
| Metric | Marion County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.27 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 1982 | 1989 | 1978 |
| Median Number of Rooms | 5.1 | 5.4 | 5.5 |
The typical housing unit in Marion County was built around 1982. On average, 2.3 people live in a home with about 5.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Marion County, Texas.
What is the median home price in Marion County, Texas?
The median home price in Marion County, Texas is $247,221, about the same as the Texas average.
What is the average home price in Marion County, Texas?
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, Texas?
The median gross rent in Marion County, Texas is $853 per month, lower than the Texas average of $1,338.
What was the median gross rent in Marion County in 2020?
In 2020, the median gross rent in Marion County, Texas was $725 per month.
What is the price-to-rent ratio in Marion County, Texas?
The price-to-rent ratio in Marion County, Texas is about 24.1, meaning it would take roughly 24.1 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 County.
Are home prices or rent rising faster in Marion County, Texas?
Both home prices and rent are rising in Marion County, up about 21.4% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Marion County, Texas?
57.9% of households in Marion County, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Marion County, Texas?
The housing vacancy rate in Marion County, Texas is 25.1%, higher than the Texas average of 9.6%.