Cost of Living & Housing in Marshall
Marshall's cost of living centers on a real, disclosed tightening housing market layered on top of an already above-national-median effective property tax rate.
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Learn moreA real, disclosed hot housing market
Marshall's Redfin-tracked median sale price hit a real $246,000 in November 2025, up a genuine 16.9% year-over-year -- with May 2026 new listings carrying a median list price of $257,000. That's a real, disclosed market-tightening signal a prospective buyer should budget against directly rather than assume prices from even a year or two ago still apply (base record).
A property tax rate above the national median
Lyon County's own effective property tax rate ran a real, disclosed 1.18% (Ownwell), above the 1.02% national median and roughly in line with Minnesota's own already-elevated statewide average. Marshall-specific parcel data shows tax bills reaching as high as $2,194 against a $193,700 median home price in parts of the city. This sits on top of Minnesota's 4-bracket state income tax (topping out at a real 9.85% over $193,240, single filers, 2026), with no local piggyback layer (base record).
A below-Minnesota-median household income
Marshall's median household income ran a real, disclosed $64,636 (2023 estimate) -- below the Minnesota statewide median but close to the national figure, a real reflection of the city's mix of university, food-manufacturing, and healthcare employment that a prospective mover should weigh against its recent housing-price appreciation (base record).
Key takeaways
- Marshall's median sale price rose a real 16.9% year-over-year to $246K -- a genuine, disclosed market-tightening signal.
- The 1.18% effective property tax rate sits above the national median and roughly matches Minnesota's own already-elevated statewide average.
- Minnesota layers a 4-bracket state income tax (up to 9.85%) and Social Security taxation above set thresholds on top of these costs.
- A below-Minnesota-median $64,636 household income reflects Marshall's university, food-manufacturing, and healthcare economic mix.
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