Marion, IN—46953
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Marion, IN
Home Price Trends — Marion, IN
As of Oct '25, the median home price in Marion, IN is $103,000, with a year-over-year change of 5.3%. This indicates that home prices in Marion, IN are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $103,000 | 5.3% |
| Single Family | $101,000 | 4.1% |
| Condos | $182,000 | 9.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $68,000 | 3.0% |
3 Bed | $111,000 | 4.7% |
4 Bed | $179,000 | 7.2% |
| 5 Bed | $224,000 | 6.7% |
% of Housing Stock
Rental Trends — Marion, IN
As of July '25, Rentcast reports the average rent in Marion, IN is $924, with a year-over-year rent change of 25.9%. Per bedroom, the median rent as of July '25 in Marion, IN is 1-bedrooms: $634, 2-bedrooms: $839, 3-bedrooms: $1,310, 4-bedrooms: $950. The most common rental property sizes in Marion, IN are 2-bedroom and 3-bedroom, accounting for 38.1% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $924 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $499 | $634 |
| 2 Bed Rent | $850 | $839 |
| 3 Bed Rent | $1,200 | $1,310 |
| 4 Bed Rent | $950 | $950 |
% of Rental Stock
Property Listings — Marion, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Marion, IN is 35. This is a decrease of -18.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $98,400 | -11.0% |
Listing Count | 53 | -12.0% |
| Listings as % of Homes | 0.4% | -12.0% |
Days on Market | 35 | -18.0% |
Demographics — Marion, IN
As of the latest ACS Survey released in 2023, Marion, IN has a population of 23,600, which has remained stable by 0.2% over the past 5 years. Marion, IN is a moderately popular place for families, as children make up 20.4% of the population. The area has a poorly educated workforce, with 16.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,600 | 0.2% |
% Under 18 | 20.4% | 7.4% |
% Seniors | 16.7% | 3.7% |
% WFH | 8.9% | 50.8% |
% w/ College Degree | 16.3% | 26.4% |
As of the latest ACS Survey released in 2023, Marion, IN is a predominantly white area, with 76.6% of the population identifying as white. The white population has grown by 2.4% in the last 5 years. The second most common race or ethnicity in Marion, IN is black, making up 9.8% of the population. Foreign-born residents account for 2.3% of the population in Marion, IN, and this percentage has increased by 27.8% 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 | 76.6% | 2.4% |
% Black | 9.8% | -36.8% |
% Hispanic | 6.2% | 1.6% |
% Asian | 0.6% | -25.0% |
% Foreign Born | 2.3% | 27.8% |
Mortgage and Risk — Marion, IN
According to HUD data as of 2023, there were 219 mortgage originations in Marion, IN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Marion, IN. Investor activity is low, as 0.0% 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 | 219 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Marion, IN
Marion, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 613 |
Total Units Section 8 | 456 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $261 | $499 | $760 |
| 2 Bedroom | $100 | $850 | $950 |
| 3 Bedroom | $30 | $1,200 | $1,230 |
| 4 Bedroom | $450 | $950 | $1,400 |
Affordability — Marion, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.9 |
| Median Home Price | $103,000 |
| Median Household Income | $46,200 |