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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 a population of 6,753, 3,119 total housing units (homes and apartments), and a median house value of $238,055, 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 75.23% of the city's housing units. Other types of housing that are prevalent in Marshall include large apartment complexes or high rise apartments ( 13.54%), duplexes, homes converted to apartments or other small apartment buildings ( 7.77%), and a few row houses and other attached homes ( 3.46%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Marshall. Owner-occupied housing accounts for 68.13% of Marshall's homes, and 64.44% have either three or four bedrooms, which is average sized relative to America.

The housing in Marshall was primarily built before 1939 ( 41.35%), 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 1940-1969 ( 28.11%), followed by between 1970-1999 ( 25.27%). There's also some housing in Marshall built between 2000 and later ( 5.26%).

Marshall Home Appreciation Rates

Marshall's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Marshall during the period has been just 4.64%, which is lower than 80% of US communities.

Over the last year, Marshall appreciation rates have trailed the rest of the nation. In the last twelve months, Marshall's appreciation rate has been 3.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marshall were at -1.74%, which equates to an annual appreciation rate of -6.80%.

Notably, Marshall's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Marshall's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$238,055

Marshall, MI Home Prices
> $1,201,000
$901,001 - $1,201,000
$601,001 - $901,000
$481,001 - $601,000
$360,001 - $481,000
$240,001 - $360,000
$120,001 - $240,000
$60,001 - $120,000
$0 - $60,000
0.8%
0.8%
0.0%
0.0%
2.7%
2.7%
2.1%
2.1%
6.6%
6.6%
19.1%
19.1%
48.6%
48.6%
15.5%
15.5%
4.6%
4.6%
0% 100.0%
% of Homes
Average

for Michigan

Average

for nation

Number of Homes And Apartments:

3,119

Marshall Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,429 / per month

Homeownership Rate

Owners
Renters
68.1%
68.1%
31.9%
31.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.8%
7.8%
92.2%
92.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.3%
5.3%
25.3%
25.3%
28.1%
28.1%
41.4%
41.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
75.2%
75.2%
3.5%
3.5%
7.8%
7.8%
13.5%
13.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
9.4%
9.4%
24.0%
24.0%
50.8%
50.8%
13.7%
13.7%
1.6%
1.6%
0% 100.0%
% of Homes

Popular Neighborhoods in Marshall

Zip Codes in Marshall, MI