Marion, IL 62959 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Marion, IL—62959

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$175,000

1.9% YoY Growth

Household Income

$69,900

35.7% YoY Growth

Days on Market

31.0% Longer YoY

Home Price Forecast

0.2%

Median Rent

$975

19.1% YoY Growth

1-Bed Rent

$750

3.4% YoY Growth

2-Bed Rent

$950

10.9% YoY Growth

3-Bed Rent

$1,300

16.1% YoY Growth

Home Price Trends — Marion, IL

As of Dec '25, the median home price in Marion, IL is $175,000, with a year-over-year change of 1.9%. This indicates that home prices in Marion, IL are increasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$175,000	1.9%
Single Family	$175,000	1.7%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Marion, IL

As of July '25, Rentcast reports the average rent in Marion, IL is $1,160, with a year-over-year rent change of 19.1%. Per bedroom, the median rent as of July '25 in Marion, IL is studios: $1,900, 1-bedrooms: $750, 2-bedrooms: $1,020, 3-bedrooms: $1,300, 4-bedrooms: $4,500. The most common rental property sizes in Marion, IL are 2-bedroom and 3-bedroom, accounting for 49.8% and 24.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$975	$1,160
Studio Rent	$1,900	$1,900
1 Bed Rent	$750	$750
2 Bed Rent	$950	$1,020
3 Bed Rent	$1,300	$1,300
4 Bed Rent	$4,500	$4,500

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% of Rental Stock

Studio

3.3%

1 Bedroom

17.8%

2 Bedrooms

49.8%

3 Bedrooms

24.4%

4 Bedrooms

4.3%

5+ Bedrooms

0.5%

Property Listings — Marion, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Marion, IL is 64. This is a increase of 29.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$212,000	-8.0%
Listing Count	101	0.0%
Listings as % of Homes	0.6%	0.0%
Days on Market	70	31.0%

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Demographics — Marion, IL

As of the latest ACS Survey released in 2023, Marion, IL has a population of 27,800, which has decreased by -1.5% over the past 5 years. Marion, IL is a moderately popular place for families, as children make up 21.1% of the population. The area has a moderately educated workforce, with 27.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.4% reporting working from home.

Metric	Latest Census	YoY % Change
Population	27,800	-1.5%
% Under 18	21.1%	1.0%
% Seniors	20.8%	7.2%
% WFH	10.4%	271.4%
% w/ College Degree	27.5%	23.9%

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As of the latest ACS Survey released in 2023, Marion, IL is a predominantly white area, with 87.3% of the population identifying as white. The white population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in Marion, IL is black, making up 4.8% of the population. Foreign-born residents account for 2.0% of the population in Marion, IL, and this percentage has increased by 81.8% 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	87.3%	-0.3%
% Black	4.8%	-29.4%
% Hispanic	2.9%	16.0%
% Asian	2.1%	320.0%
% Foreign Born	2.0%	81.8%

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Mortgage and Risk — Marion, IL

According to HUD data as of 2023, there were 463 mortgage originations in Marion, IL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Marion, IL. Investor activity is high, as 17.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	463
% Conventional Loans	76.0%
% Government Loans	24.0%
% Investor Loans	17.0%
% Second Loans	1.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Marion, IL

As of 2024, the percent of homes in Marion, IL under the Section 8 program is 10.2%. 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, IL, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	659
Total Units Section 8	331
% Rentals under Section 8	10.2%
% Occupied Section 8	82.6%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$30	$750	$780
2 Bedroom	$70	$950	$1,020
3 Bedroom	$100	$1,300	$1,400
4 Bedroom	-$2,980	$4,500	$1,520

Marion, IL—62959

Key Metrics at a Glance

Home Price Trends — Marion, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Marion, IL

% of Rental Stock

Property Listings — Marion, IL

Demographics — Marion, IL

Race and Ethnicity

Mortgage and Risk — Marion, IL

Mortgages

Rentals and Section 8 — Marion, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Marion, IL

Home Price to Income Ratio

Marion, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Johnston City, IL

Energy, IL

Creal Springs, IL

Pittsburg, IL

Herrin, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.3
Median Home Price	$175,000
Median Household Income	$69,900

Marion, IL—62959

Key Metrics at a Glance

Home Price Trends — Marion, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Marion, IL

% of Rental Stock

Property Listings — Marion, IL

Demographics — Marion, IL

Race and Ethnicity

Mortgage and Risk — Marion, IL

Mortgages

Rentals and Section 8 — Marion, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Marion, IL

Home Price to Income Ratio

Marion, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Johnston City, IL

Energy, IL

Creal Springs, IL

Pittsburg, IL

Herrin, IL

Frequently Asked Questions

What is the average home price in Marion, IL 62959?

How have home prices in Marion, IL 62959 changed over the past year?

What is the home price projection for Marion, IL 62959?

What are the demographics of Marion, IL 62959?

How long does it take homes to sell in Marion, IL 62959?

What is the average rent price in Marion, IL 62959?