Marana continues to enjoy spike in housing market

After facing a decline in the early months of the COVID-19 pandemic, the housing market in the United States has been recently roaring back to life. And nowhere is the rebound stronger than in Marana, AZ.

Zillow, a national real estate information firm, recently released estimates that displayed tremendous growth in home values across the country while also shining a spotlight on Marana. As of this past May, the average single family home value in Marana was worth $342,244. That's an increase of nearly 17% from twelve months prior, in May of 2020.

Part of the reason for the rise in single family home values is the increase of demand, which in turn is happening alongside an increase in Marana's population. According to the most recent Census estimation, the population in Marana has increased by nearly 4% over the last twelve months.

The report also noted that despite the rise of single family home values in Marana, they're still considered to be more affordable than in most places across the country. The average single family home value in the United States is approximately 4.6 times as much as the median household income; in Marana, that number is only four times the median household income.