Marquette, MI—49855
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Marquette, MI
As of Oct '25, the median home price in Marquette, MI is $315,000, with a year-over-year change of 6.9%. This indicates that home prices in Marquette, MI are increasing. According to Zillow, the 1-year price projection is 3.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $315,000 | 6.9% |
| Single Family | $310,000 | 7.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $214,000 | 9.7% |
2 Bed | $273,000 | 8.8% |
3 Bed | $321,000 | 7.4% |
4 Bed | $386,000 | 5.2% |
| 5 Bed | $435,000 | 3.6% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Marquette, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Marquette, MI is 70. This is a increase of 18.0% 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 | $528,000 | -9.0% |
Listing Count | 82 | 30.0% |
| Listings as % of Homes | 0.4% | 30.0% |
Days on Market | 70 | 18.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Marquette, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $315,000 |
| Median Household Income | $62,300 |