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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.



Mars, PA 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

Mars, PA Housing Market Trends

With a population of 1,430, 574 total housing units (homes and apartments), and a median house value of $595,159, Mars house prices are not only among the most expensive in Pennsylvania, Mars real estate also is some of the most expensive in all of America.

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 Home Appreciation Rates

Real estate appreciation rates in Mars's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.20% during the period.

Appreciation rates are so strong in Mars that despite a nationwide downturn in the housing market, Mars real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Mars appreciation rates continue to be some of the highest in America, at 11.55%, which is higher than appreciation rates in 92.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Mars. Mars appreciation rates in the latest quarter were at 1.11%, which equates to an annual appreciation rate of 4.51%.

Relative to Pennsylvania, our data show that Mars's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$595,159

Mars, PA Home Prices
> $1,471,000
$1,104,001 - $1,471,000
$735,001 - $1,104,000
$588,001 - $735,000
$441,001 - $588,000
$294,001 - $441,000
$147,001 - $294,000
$74,001 - $147,000
$0 - $74,000
7.6%
7.6%
6.5%
6.5%
23.2%
23.2%
10.6%
10.6%
7.9%
7.9%
23.5%
23.5%
13.9%
13.9%
3.4%
3.4%
3.4%
3.4%
0% 100.0%
% of Homes
Very High

for Pennsylvania

Very High

for nation

Number of Homes And Apartments:

574

Mars Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,401 / per month

Homeownership Rate

Owners
Renters
48.6%
48.6%
51.4%
51.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.7%
10.7%
89.3%
89.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.4%
3.4%
33.4%
33.4%
19.6%
19.6%
43.5%
43.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
52.3%
52.3%
0.6%
0.6%
16.8%
16.8%
30.3%
30.3%
0.0%
0.0%
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
1.7%
1.7%
26.6%
26.6%
23.5%
23.5%
32.3%
32.3%
13.7%
13.7%
2.2%
2.2%
0% 100.0%
% of Homes