Marshall, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Marshall, MI Housing Market Trends

With 6,964 people, 3,276 houses or apartments, and a median cost of homes of $172,781, house prices in Marshall are solidly below the national average.

Single-family detached homes are the single most common housing type in Marshall, accounting for 66.60% of the city's housing units. Other types of housing that are prevalent in Marshall include large apartment complexes or high rise apartments ( 18.27%), duplexes, homes converted to apartments or other small apartment buildings ( 10.28%), and a few row houses and other attached homes ( 3.44%).

The most prevalent building size and type in Marshall are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.96% owning and 37.04% renting.

The housing in Marshall was primarily built before 1939 ( 42.32%), making the housing stock in Marshall some of the oldest overall in America, although there is a range of ages of homes in Marshall. The next most important housing age is between 1970-1999 ( 28.22%), followed by between 1940-1969 ( 26.33%). There's also some housing in Marshall built between 2000 and later ( 3.14%).

Marshall Home Appreciation Rates

Real estate appreciation rates in Marshall's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.06% during the period.

Appreciation rates are so strong in Marshall that despite a nationwide downturn in the housing market, Marshall real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Marshall appreciation rates continue to be some of the highest in America, at 11.19%, which is higher than appreciation rates in 78.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Marshall. Marshall appreciation rates in the latest quarter were at 4.16%, which equates to an annual appreciation rate of 17.71%.

Importantly, this makes Marshall one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Michigan, our data show that Marshall's latest annual appreciation rate is higher than 80% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$172,781

Marshall, MI HOME PRICES

> $1,181,000
0.3%
0.3%
$886,001 - $1,181,000
0.0%
0.0%
$590,001 - $886,000
0.6%
0.6%
$472,001 - $590,000
1.6%
1.6%
$354,001 - $472,000
3.6%
3.6%
$236,001 - $354,000
13.5%
13.5%
$118,001 - $236,000
48.8%
48.8%
$59,001 - $118,000
23.9%
23.9%
$0 - $59,000
7.6%
7.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for MI

Value Relative To Nation

Number Of Homes And Apartments:
3,276

Marshall Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
28.59% 1.18%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$931 / per month

Homeownership Rate

Owners
63.0%
63.0%
Renters
37.0%
37.0%
Vacant
3.0%
3.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.1%
3.1%
1970 - 1999
28.2%
28.2%
1940 - 1969
26.3%
26.3%
1939 or Older
42.3%
42.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.6%
66.6%
Townhomes
3.4%
3.4%
Small Apt. Buildings
10.3%
10.3%
Apt. Complexes
18.3%
18.3%
Mobile Homes
1.4%
1.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
9.9%
9.9%
2 Bedrooms
30.4%
30.4%
3 Bedrooms
44.4%
44.4%
4 Bedrooms
10.6%
10.6%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Marshall

Zip Codes in Marshall, MI