Marquette, MI 49855 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Marquette, MI—49855

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$314,000

7.2% YoY Growth

Household Income

$62,300

26.8% YoY Growth

Days on Market

35.0% Longer YoY

Home Price Forecast

3.7%

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 — Marquette, MI

As of Nov '25, the median home price in Marquette, MI is $314,000, with a year-over-year change of 7.2%. This indicates that home prices in Marquette, MI are increasing. According to Zillow, the 1-year price projection is 3.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$314,000	7.2%
Single Family	$309,000	8.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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.

Type	Median Rent	Average Rent
Average Rent	$1,250	$1,390
Studio Rent	N/A	N/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/A	N/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 Nov '25, Realtor.com reports that the median days on market for a home in Marquette, MI is 82. This is a increase of 35.0% 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 5.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$542,000	-11.0%
Listing Count	74	34.0%
Listings as % of Homes	0.4%	34.0%
Days on Market	82	35.0%

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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.

Metric	Latest Census	YoY % Change
Population	33,200	0.5%
% 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

Metric	Latest Census	5-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

Metric	Zip 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 Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$160	$1,100	$940
2 Bedroom	-$190	$1,300	$1,110
3 Bedroom	-$1,460	$2,800	$1,340
4 Bedroom	N/A	N/A	$1,760

Marquette, MI—49855

Key Metrics at a Glance

Home Price Trends — Marquette, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Marquette, MI

% of Rental Stock

Property Listings — Marquette, MI

Demographics — Marquette, MI

Race and Ethnicity

Mortgage and Risk — Marquette, MI

Mortgages

Rentals and Section 8 — Marquette, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Marquette, MI

Home Price to Income Ratio

Marquette, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Cascade

Negaunee, MI

Gwinn, MI

Cedar Bank

Ishpeming, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.2
Median Home Price	$314,000
Median Household Income	$62,300

Marquette, MI—49855

Key Metrics at a Glance

Home Price Trends — Marquette, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Marquette, MI

% of Rental Stock

Property Listings — Marquette, MI

Demographics — Marquette, MI

Race and Ethnicity

Mortgage and Risk — Marquette, MI

Mortgages

Rentals and Section 8 — Marquette, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Marquette, MI

Home Price to Income Ratio

Marquette, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Cascade

Negaunee, MI

Gwinn, MI

Cedar Bank

Ishpeming, MI

Frequently Asked Questions

What is the average home price in Marquette, MI 49855?

How have home prices in Marquette, MI 49855 changed over the past year?

What is the home price projection for Marquette, MI 49855?

What are the demographics of Marquette, MI 49855?

How long does it take homes to sell in Marquette, MI 49855?

What is the average rent price in Marquette, MI 49855?