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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Marquette, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Marquette, MI Housing Market Trends

With a population of 20,786, 8,420 total housing units (homes and apartments), and a median house value of $298,036, Marquette real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Marquette, accounting for 51.05% of the city's housing units. Other types of housing that are prevalent in Marquette include large apartment complexes or high rise apartments ( 27.09%), duplexes, homes converted to apartments or other small apartment buildings ( 17.43%), and a few row houses and other attached homes ( 3.30%).

People in Marquette primarily live in small (one, two or no bedroom) single-family detached homes. Marquette has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Marquette built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Marquette built before 1939 ( 27.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 25.30%). There's also some housing in Marquette built between 2000 and later ( 11.28%).

Marquette Home Appreciation Rates

Real estate appreciation rates in Marquette's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.23% during the period.

NeighborhoodScout's data show that during the latest twelve months, Marquette's appreciation rate, at 6.84%, has been at or slightly above the national average. In the latest quarter, Marquette's appreciation rate has been 0.88%, which annualizes to a rate of 3.56%.

Relative to Michigan, our data show that Marquette's latest annual appreciation rate is higher than 50% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Marquette differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Marquette - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Marquette real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$298,036

Marquette, MI Home Prices
> $1,433,000
$1,074,001 - $1,433,000
$716,001 - $1,074,000
$573,001 - $716,000
$429,001 - $573,000
$287,001 - $429,000
$143,001 - $287,000
$72,001 - $143,000
$0 - $72,000
1.4%
1.4%
2.5%
2.5%
6.0%
6.0%
5.9%
5.9%
13.8%
13.8%
30.8%
30.8%
33.2%
33.2%
2.7%
2.7%
3.6%
3.6%
0% 100.0%
% of Homes
High

for Michigan

Average

for nation

Number of Homes And Apartments:

8,420

Marquette Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,617 / per month

Homeownership Rate

Owners
Renters
40.6%
40.6%
59.4%
59.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.6%
8.6%
91.4%
91.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.3%
11.3%
36.0%
36.0%
25.3%
25.3%
27.4%
27.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
51.0%
51.0%
3.3%
3.3%
17.4%
17.4%
27.1%
27.1%
1.1%
1.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.7%
4.7%
15.3%
15.3%
33.5%
33.5%
30.5%
30.5%
13.2%
13.2%
2.7%
2.7%
0% 100.0%
% of Homes

Popular Communities Near Marquette, MI

Zip Codes in Marquette, MI