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 | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,043 | $94,066 | $242,182 |
| Price Trend (Annual %) | 4.1% | 1.9% | 8.2% |
| Median Gross Rent | $901 | $849 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Marion County is about 17% lower than in West Virginia. Rent is about 6% higher than the West Virginia 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 4.1% and 3.4% a year respectively. Home prices are changing faster.
Median rent in Marion County rose about 32.5% between 2015 and 2023, from $680 to $901. Over the same span, rent in West Virginia rose about 32.2%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Marion County.
Buying the median-priced home in Marion County costs roughly 7.2 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 West Virginia is about 9.2.
| Metric | Marion County | West Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,043 | $94,066 | $242,182 |
| Median Household Income | $66,929 | $57,886 | $78,145 |
| Price-to-Income Ratio | 1.2 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Marion County rose about 10.2%, while median household income rose about 90.1% 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 | West Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.2% | 62.4% | 58.2% |
| Rental Rate | 21.1% | 21.6% | 31.3% |
| Vacancy Rate | 12.6% | 16.1% | 10.6% |
| Median Tenure (years) | 18.0 | 18.0 | 15.0 |
| Median Year Moved In | 2008 | 2008 | 2011 |
Marion County has a homeownership rate of 66.2%, higher than the West Virginia average of 62.4%. Its housing vacancy rate is 12.6%, compared with 16.1% in West Virginia.
Housing Stock
| Metric | Marion County | West Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1965 | 1974 | 1978 |
| Median Number of Rooms | 5.8 | 5.9 | 5.5 |
The typical housing unit in Marion County was built around 1965. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Marion County, West Virginia.
What is the median home price in Marion County, West Virginia?
The median home price in Marion County, West Virginia is $78,043, lower than the West Virginia average of $94,066.
What is the average home price in Marion County, West Virginia?
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, West Virginia?
The median gross rent in Marion County, West Virginia is $901 per month, higher than the West Virginia average of $849.
What was the median gross rent in Marion County in 2020?
In 2020, the median gross rent in Marion County, West Virginia was $787 per month.
What is the price-to-rent ratio in Marion County, West Virginia?
The price-to-rent ratio in Marion County, West Virginia is about 7.2, meaning it would take roughly 7.2 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, West Virginia?
Both home prices and rent are rising in Marion County, up about 4.1% and 3.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Marion County, West Virginia?
66.2% of households in Marion County, West Virginia own their home, higher than the West Virginia average of 62.4%.
What is the vacancy rate in Marion County, West Virginia?
The housing vacancy rate in Marion County, West Virginia is 12.6%, lower than the West Virginia average of 16.1%.