Marion, SC 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

Marion, SC Housing Market Trends

With 6,326 people, 2,345 houses or apartments, and a median cost of homes of $93,830, house prices in Marion are some of the most affordable in South Carolina as well as the nation.

Single-family detached homes are the single most common housing type in Marion, accounting for 65.52% of the city's housing units. Other types of housing that are prevalent in Marion include duplexes, homes converted to apartments or other small apartment buildings ( 22.37%), mobile homes or trailers ( 5.14%), and a few large apartment complexes or high rise apartments ( 4.87%).

The most prevalent building size and type in Marion are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.91% owning and 54.09% renting.

There is a lot of housing in Marion built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Marion built between 1940-1969 ( 31.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.87%). There's also some housing in Marion built before 1939 ( 7.41%).

Vacant housing appears to be an issue in Marion. Fully 20.64% of the housing stock is classified as vacant. Left unchecked, vacant Marion homes and apartments can be a drag on the real estate market, holding Marion real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Marion Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Marion, where house values have increased just 16.43%, which is annualized rate of 1.53%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Marion appreciation rates have trailed the rest of the nation. In the last twelve months, Marion's appreciation rate has been 7.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marion were at 3.21%, which equates to an annual appreciation rate of 13.47%.

Relative to South Carolina, our data show that Marion's latest annual appreciation rate is lower than 80% of the other cities and towns in South Carolina.

Average Home Values

 

Median Home Value:
$93,830

Marion, SC HOME PRICES

> $1,198,000
0.0%
0.0%
$899,001 - $1,198,000
0.0%
0.0%
$600,001 - $899,000
0.5%
0.5%
$480,001 - $600,000
0.0%
0.0%
$360,001 - $480,000
0.5%
0.5%
$240,001 - $360,000
4.5%
4.5%
$120,001 - $240,000
34.0%
34.0%
$60,001 - $120,000
36.7%
36.7%
$0 - $60,000
23.9%
23.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for SC

Value Relative To Nation

Number Of Homes And Apartments:
2,345

Marion Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
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
28.04% 1.16%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$882 / per month

Homeownership Rate

Owners
45.9%
45.9%
Renters
54.1%
54.1%
Vacant
20.6%
20.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.9%
8.9%
1970 - 1999
52.5%
52.5%
1940 - 1969
31.3%
31.3%
1939 or Older
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.5%
65.5%
Townhomes
2.1%
2.1%
Small Apt. Buildings
22.4%
22.4%
Apt. Complexes
4.9%
4.9%
Mobile Homes
5.1%
5.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
12.6%
12.6%
1 Bedroom
6.1%
6.1%
2 Bedrooms
20.4%
20.4%
3 Bedrooms
52.4%
52.4%
4 Bedrooms
8.6%
8.6%
5 or more bedrooms
0.0%
0.0%
0.0% 100.0%
% OF HOMES