Marion, OH—43302
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Marion, OH
As of Oct '25, the median home price in Marion, OH is $162,000, with a year-over-year change of 4.6%. This indicates that home prices in Marion, OH are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $162,000 | 4.6% |
| Single Family | $159,000 | 4.6% |
| Condos | $256,000 | 8.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $78,000 | 1.3% |
2 Bed | $118,000 | 5.4% |
3 Bed | $167,000 | 5.0% |
4 Bed | $241,000 | 5.7% |
| 5 Bed | $312,000 | 5.4% |
% of Housing Stock
Rental Trends — Marion, OH
As of July '25, Rentcast reports the average rent in Marion, OH is $1,020, with a year-over-year rent change of 3.3%. Per bedroom, the median rent as of July '25 in Marion, OH is studios: $675, 1-bedrooms: $782, 2-bedrooms: $914, 3-bedrooms: $1,090, 4-bedrooms: $1,730. The most common rental property sizes in Marion, OH are 3-bedroom and 2-bedroom, accounting for 34.6% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,020 |
| Studio Rent | $675 | $675 |
| 1 Bed Rent | $750 | $782 |
| 2 Bed Rent | $900 | $914 |
| 3 Bed Rent | $1,020 | $1,090 |
| 4 Bed Rent | $1,500 | $1,730 |
% of Rental Stock
Property Listings — Marion, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Marion, OH is 39. This is a increase of 17.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $187,000 | 6.0% |
Listing Count | 194 | 6.0% |
| Listings as % of Homes | 0.4% | 6.0% |
Days on Market | 39 | 17.0% |
Demographics — Marion, OH
As of the latest ACS Survey released in 2023, Marion, OH has a population of 54,600, which has remained stable by 1.0% over the past 5 years. Marion, OH is a moderately popular place for families, as children make up 21.4% of the population. The area has a poorly educated workforce, with 13.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,600 | 1.0% |
% Under 18 | 21.4% | 2.4% |
% Seniors | 17.8% | 6.0% |
% WFH | 6.1% | 190.5% |
% w/ College Degree | 13.4% | 2.3% |
As of the latest ACS Survey released in 2023, Marion, OH is a predominantly white area, with 84.9% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Marion, OH is black, making up 6.2% of the population. Foreign-born residents account for 1.9% of the population in Marion, OH, and this percentage has increased by 5.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.9% | -2.2% |
% Black | 6.2% | -11.4% |
% Hispanic | 3.4% | 30.8% |
% Asian | 0.8% | 14.3% |
% Foreign Born | 1.9% | 5.6% |
Mortgage and Risk — Marion, OH
According to HUD data as of 2023, there were 798 mortgage originations in Marion, OH, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Marion, OH. Investor activity is low, as 3.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 798 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Marion, OH
As of 2024, the percent of homes in Marion, OH under the Section 8 program is 14.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Marion, OH, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,153 |
Total Units Section 8 | 1,068 |
% Rentals under Section 8 | 14.7% |
% Occupied Section 8 | 86.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $750 | $860 |
| 2 Bedroom | $230 | $900 | $1,130 |
| 3 Bedroom | $340 | $1,020 | $1,360 |
| 4 Bedroom | $0 | $1,500 | $1,500 |
Affordability — Marion, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $162,000 |
| Median Household Income | $53,800 |