Quick facts: Marshall, MI

Quick Facts

94.9
Cost of Living
below US average
6,753
Population
13.77
Crime Rate per 1000
below US average
$72,813
Median Income
below US average
$297,900
Median House Price
above US average
$1625.0
Average Rent
above US average
9%
Poverty Rate
below US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $72,813.

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Income Needed to Buy

βœ— Stretch
$93k/year
Based on $297,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $93k vs median $72,813
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Income Needed to Rent

βœ“ Affordable
$70k/year
Based on $1625.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($72,813) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Marshall, MI

Marshall, Michigan, is a charming city located in Calhoun County. Known for its rich history and well-preserved architecture, Marshall was incorporated in 1830 and has a vibrant downtown area with historic buildings reflecting its past. The city is recognized for its role as a center for the Underground Railroad and hosts several museums, including the American Museum of Magic, which showcases a fascinating collection of magic artifacts. Marshall is surrounded by natural beauty, with numerous parks and recreational areas such as the popular Brooks Nature Area, perfect for hiking and enjoying the outdoors. The city's population is around 7,000 residents, fostering a close-knit community atmosphere. Marshall hosts various annual events, including the Marshall Frontier Days, celebrating local heritage with parades, crafts, and food. The area is also home to excellent schools and a variety of local businesses, contributing to its small-town charm. With easy access to major highways, Marshall is conveniently located for day trips to larger urban centers while maintaining its peaceful, rural character.

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