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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.



Marshall, MN 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

Marshall, MN Housing Market Trends

With a population of 13,680, 5,351 total housing units (homes and apartments), and a median house value of $236,601, house prices in Marshall are solidly below the national average.

Single-family detached homes are the single most common housing type in Marshall, accounting for 57.59% of the city's housing units. Other types of housing that are prevalent in Marshall include large apartment complexes or high rise apartments ( 24.35%), duplexes, homes converted to apartments or other small apartment buildings ( 12.63%), and a few row houses and other attached homes ( 3.74%).

The most prevalent building size and type in Marshall are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.63% owning and 45.37% renting.

There is a lot of housing in Marshall 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 Marshall built between 1940-1969 ( 29.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.15%). There's also some housing in Marshall built before 1939 ( 11.48%).

Vacant housing appears to be an issue in Marshall. Fully 11.90% of the housing stock is classified as vacant. Left unchecked, vacant Marshall homes and apartments can be a drag on the real estate market, holding Marshall real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Marshall Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Marshall, where house values have increased just 48.06%, which is annualized rate of 4.00%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Marshall appreciation rates have trailed the rest of the nation. In the last twelve months, Marshall's appreciation rate has been 1.44%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Marshall were at 4.64%, which equates to an annual appreciation rate of 19.89%.

Importantly, this makes Marshall one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Minnesota, our data show that Marshall's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$236,601

Marshall, MN Home Prices
> $1,181,000
$886,001 - $1,181,000
$591,001 - $886,000
$472,001 - $591,000
$354,001 - $472,000
$236,001 - $354,000
$118,001 - $236,000
$59,001 - $118,000
$0 - $59,000
0.0%
0.0%
0.0%
0.0%
1.1%
1.1%
2.3%
2.3%
9.4%
9.4%
30.0%
30.0%
44.3%
44.3%
7.7%
7.7%
5.2%
5.2%
0% 100.0%
% of Homes
Low

for Minnesota

Average

for nation

Number of Homes And Apartments:

5,351

Marshall Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,057 / per month

Homeownership Rate

Owners
Renters
54.6%
54.6%
45.4%
45.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.9%
11.9%
88.1%
88.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.2%
12.2%
47.1%
47.1%
29.2%
29.2%
11.5%
11.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
57.6%
57.6%
3.7%
3.7%
12.6%
12.6%
24.3%
24.3%
1.7%
1.7%
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
0.4%
0.4%
12.6%
12.6%
30.5%
30.5%
30.3%
30.3%
16.8%
16.8%
9.4%
9.4%
0% 100.0%
% of Homes

Zip Codes in Marshall, MN