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Marquette, MI—49855

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$338,000
8.8% YoY Growth
Household Income
$62,300
26.8% YoY Growth
Days on Market
12
56.0% Shorter YoY
Home Price Forecast
3.0%
Median Rent
$1,250
14.2% YoY Growth
1-Bed Rent
$1,100
12.8% YoY Growth
2-Bed Rent
$1,300
8.2% YoY Growth
3-Bed Rent
$2,800
53.8% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Marquette, MI

As of May '26, the median home price in Marquette, MI is $338,000, with a year-over-year change of 8.8%. This indicates that home prices in Marquette, MI are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$338,0008.8%
Single Family $333,0009.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $231,000
    7.9%
    2 Bed
    		$288,0008.3%
    3 Bed
    		$344,0009.2%
    4 Bed
    		$413,0007.3%
    5 Bed $464,0276.7%
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    % of Housing Stock

    Studio
    2.5%
    1 Bedroom
    14.1%
    2 Bedrooms
    32.1%
    3 Bedrooms
    34.0%
    4 Bedrooms
    13.9%
    5+ Bedrooms
    3.5%

    Rental Trends — Marquette, MI

    As of July '25, Rentcast reports the average rent in Marquette, MI is $1,390, with a year-over-year rent change of -14.2%. Per bedroom, the median rent as of July '25 in Marquette, MI is 1-bedrooms: $1,040, 2-bedrooms: $1,350, 3-bedrooms: $2,800. The most common rental property sizes in Marquette, MI are 2-bedroom and 1-bedroom, accounting for 49.1% and 28.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,250$1,390
    Studio Rent N/AN/A
    1 Bed Rent $1,100$1,040
    2 Bed Rent $1,300$1,350
    3 Bed Rent $2,800$2,800
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    5.2%
    1 Bedroom
    28.6%
    2 Bedrooms
    49.1%
    3 Bedrooms
    10.9%
    4 Bedrooms
    5.5%
    5+ Bedrooms
    0.7%

    Property Listings — Marquette, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Marquette, MI is 12. This is a decrease of -56.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$627,0008.0%
    Listing Count
    		9111.0%
    Listings as % of Homes0.4%11.0%
    Days on Market
    		12-56.0%
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    Demographics — Marquette, MI

    As of the latest ACS Survey released in 2023, Marquette, MI has a population of 33,200, which has remained stable by 0.5% over the past 5 years. Marquette, MI is a less popular place for families, as children make up 13.0% of the population. The area has a moderately educated workforce, with 44.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		33,2000.5%
    % Under 18
    		13.0%-9.7%
    % Seniors
    		19.2%17.1%
    % WFH
    		6.8%47.8%
    % w/ College Degree
    		44.9%12.3%
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    As of the latest ACS Survey released in 2023, Marquette, MI is a predominantly white area, with 90.2% of the population identifying as white. The white population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in Marquette, MI is black, making up 2.5% of the population. Foreign-born residents account for 3.1% of the population in Marquette, MI, and this percentage has increased by 6.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		90.2%0.3%
    % Black
    		2.5%-16.7%
    % Hispanic
    		1.8%-10.0%
    % Asian
    		0.6%-60.0%
    % Foreign Born
    		3.1%6.9%
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    Mortgage and Risk — Marquette, MI

    According to HUD data as of 2023, there were 419 mortgage originations in Marquette, MI, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Marquette, MI. Investor activity is low, as 2.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		419
    % Conventional Loans
    		90.0%
    % Government Loans
    		10.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		5.0%
    % Cash Out Refinance
    		20.0%
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    Rentals and Section 8 — Marquette, MI

    Marquette, MI lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		796
    Total Units Section 8
    		772
    % Rentals under Section 8
    		N/A
    % Occupied Section 8
    		91.4%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$160$1,100$940
    2 Bedroom-$190$1,300$1,110
    3 Bedroom-$1,460$2,800$1,340
    4 BedroomN/AN/A$1,760

    Affordability — Marquette, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.3
    Median Home Price$338,000
    Median Household Income$62,300

    Marquette, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Cascade

    49871

    Negaunee, MI

    49866

    Gwinn, MI

    49841

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    49833

    Ishpeming, MI

    49849

    Frequently Asked Questions