Rent, population, and median household income are important factors to consider for a 1031 exchange in Center Point due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Center Point, Alabama is a part of the North Birmingham submarket area.
Center Point Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Center Point, AL submarket area was $715, which is 17.79% lower than 2014 average rent. This represents a compounded annual growth rate of 3.33%. 2019 vacancy in Center Point, AL was 4.50%.
The total population of the city of Center Point, AL has decreased 4.13% since 2010. As of 2018, the population was 16,222. The median household income of the Center Point was $43,635, which is 27.63% lower than the national average.
- submarket area North Birmingham
- avg rent $715
- rent growth 17.79%
- vacancy 4.50%
- median income $43,635
- population (2018) 16,222
- population growth -4.13%
- vs. nat'l avg 27.63%
