The typical owner-occupied home in Marion is worth about $142,100, 34% below the Louisiana median of $216,500 and 57% below the national median of $332,700. The median household earns $28,452 a year, so the median home costs 5.0 times the median income (3.6 times for Louisiana). 57% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Marion at a glance
| Marion | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $142,100 | $216,500 | $332,700 |
| Median property tax paid per year | – | $1,180 | $3,119 |
| Median household income | $28,452 | $60,756 | $80,734 |
| Homes lived in by their owners | 57% | 67% | 65% |
| Owner homes with a mortgage | 35% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,554 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 45.0% | 20.4% | 21.0% |
| Median rent | $806 | $1,064 | $1,413 |
| Rent as a share of renters' income | 28.7% | 32.8% | 30.6% |
| Median year homes were built | 1977 | 1983 | 1980 |
| Vacant homes | 20.3% | 14.4% | 10.1% |
| Population | 539 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Marion
At this week's average 30-year rate of 7.11%, buying the median Marion home of $142,100 with 20% down costs about $954 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,191, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $40,894 for the 20%-down payment. That payment is 40% of the median Marion household income of $28,452; at that income and 20% down, the 28% guideline points to a home of about $99,000.
The median rent here is $806 a month, so owning the median home costs about $148 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $28,420 |
|---|---|
| Loan amount | $113,680 |
| Principal and interest | $765 |
| Property taxes (1.10% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| PMI | $0 |
| Total per month | $954 |
Change the numbers in the calculator
| Down payment | $4,974 |
|---|---|
| Loan amount | $139,526 |
| Principal and interest | $939 |
| Property taxes (1.10% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $59 |
| FHA mortgage insurance | $63 |
| Total per month | $1,191 |
Change the numbers in the calculator
Questions about home buying in Marion
What is the median home value in Marion?
About $142,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Marion?
For the median home with 20% down at 7.11%, the payment is about $954 a month. Keeping that under 28% of gross income takes about $40,894 a year.
More about Marion
- Mortgage Refinance in Marion
- Debt Relief in Marion
- Home Equity Loans in Marion
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data