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City · 5,670 residents · Smyth County, Virginia

Marion , Virginia

In Marion, a typical home is worth $172,500 and typical rent is $714 a month. Compared with all of Smyth County, the typical home value is 24% higher, typical household income is 18% lower, and the share of households that own their home is 17 points lower.

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  • Typical home value

    $172,500

    24% above the county

    55% below Virginia

    • Marion
    • Smyth
    • Virginia

  • Typical rent

    $714a month

    2% below the county

    55% below Virginia

    • Marion
    • Smyth
    • Virginia

  • Typical household income

    $40,896a year

    18% below the county

    56% below Virginia

    • Marion
    • Smyth
    • Virginia

  • Households that own their home

    54%

    17 points below the county

    13 points below Virginia

    • Marion
    • Smyth
    • Virginia

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$167,381
4.4% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Marion is in Smyth County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Smyth County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Marion apart

What this place has that others do not, from public data, most unusual first.

  1. Marion has the lowest typical rent of the 157 cities in Virginia with more than 5,000 people: $714.

  2. Marion has the 2nd lowest typical household income of the 160 cities in Virginia with more than 5,000 people ($40,896).

  3. Marion has the 6th lowest typical home value of the 157 cities in Virginia with more than 5,000 people ($172,500).

  4. Nearby, in Richlands, the typical home value is $111,000: 36% less than in Marion ($172,500).

  5. 54% of households in Marion own their home, against 71% in Smyth County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Marion

What homes there are in Marion, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Marion, but it weighs less than in Smyth County: 65% against 73%.

Year built

Homes in Marion are older: the typical year built is 1962; in Smyth County, 1973.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA limit for Smyth County is high ($541,287): at least 99% of owner-occupied homes in Marion are worth less than $500,000.

Monthly rent with utilities

By rent, most homes in Marion cost less than HUD's 2-bedroom fair market rent ($943): about 83%.

With a mortgage

$1,220 a month

Smyth County: $1,125 a month

Without a mortgage

$390 a month

Smyth County: $379 a month

Owners with a mortgage

48%

Smyth County: 42%

The typical cost for an owner with a mortgage in Marion is $1,220 a month, more than in Smyth County ($1,125); without one, $390.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Marion rose 73% since 2015–2019, more than in Smyth County (46%).

Rent in Marion moved so little since 2015–2019 that the Census cannot say whether it rose or fell.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMarionSmyth CountyVirginiaUnited States
Rental vacancy Unreliable estimate4.4%4.8%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.1%3.4%
People per household 2.102.262.522.53
Drive alone 78%83%68%69%
Carpool 12%10%8%9%
Public transit Unreliable estimateUnreliable estimate2%3%
Walk or bike Unreliable estimateUnreliable estimate2%3%
Work from home 10%6%18%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimateUnreliable estimate20 to 29 minutes20 to 29 minutes

Households in Marion are smaller: 2.10 people on average; in Smyth County, 2.26.

Many people here do not commute at all: 10% work from home; in Smyth County, 6%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Marion?

A typical home costs more than the typical income allows

We start with a typical home in Marion, worth $172,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income in Marion, which is $40,896 a year. For that payment to be 28% of income, a household would need to earn about $59,776 a year.

The calculator's FHA and conventional loan limits are those of all of Smyth County.

Your numbers

Local data
$

Starts at the typical home value in Marion. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $6,038 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,395

at 7.18% · 30 years

Loan amount
$169,375
Total interest
$243,691
Paid off in
November 2056

Includes $2,913 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $954 a month

  • Tight

    $954 to $1,227 a month

  • Hard

    more than $1,227 a month

    Your payment · 41%

Compared with the typical household income in Marion ($40,896 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,395
Principal & interest$1,147
Property tax$99
Home insurance$72
FHA mortgage insurance (MIP)$76

You need at least $6,038 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Marion and Smyth County

Marion is in Smyth County, Virginia. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Marion's own numbers

Typical home value
$172,500
Typical monthly rent
$714
Typical yearly household income
$40,896
Households that own their home
54%
Effective property tax rate
0.69%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Smyth County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$943
Price change over 5 years (FHFA)
+55%
Homes in a high flood-risk zone
6%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Smyth County.

Everything about Smyth County

Buying

Buying a home in Marion

A typical home in Marion is worth $172,500: 24% above the county and 55% below Virginia. With the typical household income in Marion ($40,896 a year), a typical home costs 4.2 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Marion 4.2 years
  • Smyth 2.8 years
  • Virginia 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Smyth County

According to FHFA’s house price index, home prices in Smyth County rose 73% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Smyth County.

Period County Virginia U.S.
Last year (2025) +6.5% +3.7% +2.9%
5 years (2020–2025) +55% +49% +47%
10 years (2015–2025) +73% +75% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Marion next to Smyth County, Virginia and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Marion $172,500
  • Smyth $139,600
  • Virginia $383,700
  • United States $332,700
Typical monthly rent
  • Marion $714
  • Smyth $731
  • Virginia $1,579
  • United States $1,413
Typical yearly household income
  • Marion $40,896
  • Smyth $49,883
  • Virginia $93,170
  • United States $80,734
See the full table
Marion next to Smyth County and Virginia
Measure Marion Smyth County Virginia U.S.
Typical home value $172,500 $139,600 $383,700 $332,700
Typical monthly rent $714 $731 $1,579 $1,413
Typical yearly household income $40,896 $49,883 $93,170 $80,734
Households that own their home 54% 71% 67% 65%
Typical yearly property tax $1,188 $805 $2,790 $3,119
Effective property tax rate 0.69% 0.58% 0.73% 0.94%
Renters with high rent for their income 47% 45% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Smyth County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Marion

For a typical $172,500 home in Marion, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Marion's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,395a month

    Least cash to close
    Down payment
    $6,038
    Cash to close
    $11,213
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $76

  • Conventional, 5% down $1,363a month

    Down payment
    $8,625
    Cash to close
    $13,800
    Rate
    7.18%
    Mortgage insurance
    PMI · $82

  • Conventional, 20% down, no PMI $1,106a month

    Down payment
    $34,500
    Cash to close
    $39,675
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,265a month

    Down payment
    $25,875
    Cash to close
    $31,050
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Marion and for Smyth County.

Property tax

Effective rate in Marion

0.69%of the home’s value each year

$1,188 a year for the typical owner in Marion.

  • Marion 0.69%
  • Smyth 0.58%
  • Virginia 0.73%

What Virginia publishes Local exemption or deferral for people 65 and older or with disabilities (Virginia General Assembly (Code of Virginia))

Exemptions and deadlines in Virginia

Flood risk in Smyth County

FEMA does not publish these numbers by city: they are for all of Smyth County.

Homes in the high-risk zone
6%
776
Of those, with NFIP insurance
16%
County Virginia U.S.
Homes in the high-risk zone 6% 1.5% 3.5%
Of those, with NFIP insurance 16% 100% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Marion

Typical rent in Marion is $714 a month: 2% below the county. In Marion, 47% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Smyth County, by unit size. To pay the 2-bedroom one ($943 a month) without spending more than 30% of your income, you would need to earn $18.13 an hour working full time.

HUD fair market rent for all of Smyth County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $710 $13.65 $28,400
1 bedroom $741 $14.25 $29,640
2 bedrooms $943 $18.13 $37,720
3 bedrooms $1,171 $22.52 $46,840
4 bedrooms $1,460 $28.08 $58,400

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Marion

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Marion is in ZIP code 24354.

For 2 bedrooms it is $940: $3 less than the fair market rent for Smyth County ($943).

  • 24354 $940$1,170

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Marion when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Marion

HUD lists 3 buildings with rents for lower incomes in Marion. These are the largest.

  • Marion Public HSG 411 Douglas St, Marion 24354 238 low-income homes · Run by Marion Redevelopment & Housing Authority · Average payment: $311 a month · Average wait: 7 months · Homes at several sites (276) 783-3381
  • Marion Manor 1001 Marion Manor Dr, Marion 24354 91 low-income homes · 1 bd: 5 · 2 bd: 64 · 3 bd: 22 · In service since 2019 · For older adults
  • Southview 252 View Dr, Marion 24354 72 low-income homes · 2 bd: 46 · 3 bd: 26 · In service since 2017 · For families (276) 646-5766

See all 5 buildings in Smyth County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Marion

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Smyth County. The nearest ones are below; many serve by phone or online.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Marion

No down payment, repair or rent-help program on our list is for Marion or Smyth County. The ones below are statewide in Virginia: they work in Marion the same as in the rest of the state.

Which programs do I qualify for? All programs in Virginia

  • Down Payment Assistance Grant

    Statewide in Virginia

    Virginia state agency down payment grant that you do not repay; for first-time buyers, or any buyer in economic opportunity zones, with a Virginia Housing mortgage. Offered by Virginia Housing (Virginia Housing Development Authority).

    Grant

    See the program Official page

  • Virginia Housing Plus Second Mortgage

    Statewide in Virginia

    Virginia Housing 30-year fixed-rate second mortgage of up to 5% of the price for the down payment (and part of the closing costs with a credit score of 680 or higher); for first-time buyers and for people who have owned a home before. Offered by Virginia Housing (Virginia Housing Development Authority).

    Type not stated

    See the program Official page

  • Closing Cost Assistance Grant

    Statewide in Virginia

    Virginia Housing grant that you do not repay, of up to 2% of the price, for the closing costs of buyers with a Virginia Housing RD (Rural Development) or VA loan. Offered by Virginia Housing (Virginia Housing Development Authority).

    Grant

    See the program Official page

Housing counselors near Marion

The HUD-approved agencies closest to the center of Marion, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Helping Overcome Poverty's Existence, Inc., (formerly Mountain Shelter, Inc.)

    680 W Main St, Wytheville · 25 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (276) 228-6280

  • People Incorporated of Virginia

    1173 W Main St, Abingdon · 29 miles away · Spanish

    • Mortgage delinquency and default
    • Homelessness services
    • and 3 more
    (276) 623-9000

  • New River Community Action (pulaski County)

    412 N. Jefferson Ave, Pulaski · 43 miles away

    • Mortgage delinquency and default
    • Fair housing pre-purchase workshops
    • and 5 more
    (540) 980-5525

All counseling agencies in Virginia

Help in Spanish near Marion

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Marion

HUD’s record names them for Marion or Smyth County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Marion Redevelopment & Housing Authority Public housing and Section 8 vouchers (276) 783-3381

All housing agencies in Virginia Source: HUD

Cities

Nearby cities

The cities closest to Marion, with the typical home value.

Everything about Smyth County Housing in Virginia

Neighboring counties

If Smyth County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Marion.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Marion

Short answers with the numbers for Marion and all of Smyth County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Marion?

The typical home value in Marion is $172,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Smyth County it is $139,600.

How much does it cost to rent in Marion?

Typical rent in Marion is $714 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Smyth County is $943.

What is the FHA loan limit in Marion?

Marion uses the FHA limit for all of Smyth County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Marion?

The typical homeowner in Marion pays $1,188 a year, according to the U.S. Census Bureau. That is 0.69% of the home’s value; in Smyth County, the rate is 0.58%.

Where can I find free help to buy or rent in Marion?

We found no HUD-approved counseling agencies with an office in Smyth County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).