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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,430, 574 total housing units (homes and apartments), and a median house value of $501,845, Mars real estate is some of the most expensive in Pennsylvania, although Mars home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Mars, accounting for 52.26% of the borough's housing units. Other types of housing that are prevalent in Mars include large apartment complexes or high rise apartments ( 30.33%), duplexes, homes converted to apartments or other small apartment buildings ( 16.80%).
People in Mars primarily live in small (one, two or no bedroom) single-family detached homes. Mars has a mixture of owner-occupied and renter-occupied housing.
The housing in Mars was primarily built before 1939 ( 43.55%), making the housing stock in Mars some of the oldest overall in America, although there is a range of ages of homes in Mars. The next most important housing age is between 1970-1999 ( 33.44%), followed by between 1940-1969 ( 19.60%). There's also some housing in Mars built between 2000 and later ( 3.42%).
Vacant housing appears to be an issue in Mars. Fully 10.73% of the housing stock is classified as vacant. Left unchecked, vacant Mars homes and apartments can be a drag on the real estate market, holding Mars 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.
Mars's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Mars during the period has been just 4.41%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Mars's appreciation rate, at 5.71%, has been at or slightly above the national average. In the latest quarter, Mars's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.
Relative to Pennsylvania, our data show that Mars's latest annual appreciation rate is lower than 50% of the other cities and towns in Pennsylvania.
$501,845
for Pennsylvania
for nation
574
$1,343 / per month