1031 Exchange Montevallo, Alabama

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Montevallo due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Montevallo, Alabama is a part of the North Birmingham submarket area, and contains zip code 35115.

Montevallo Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Montevallo, AL submarket area was $1,020, which is 17.65% lower than 2014 average rent. This represents a compounded annual growth rate of 3.30%. 2019 vacancy in Montevallo, AL was 4.90%.

The total population of the city of Montevallo, AL has grown 5.55% since 2010. As of 2018, the population was 6,674. The median household income of the Montevallo was $41,720, which is 30.80% lower than the national average.

  • submarket area North Birmingham
  • avg rent $1,020
  • rent growth 17.65%
  • vacancy 4.90%
  • median income $41,720
  • population (2018) 6,674
  • population growth 5.55%
  • vs. nat'l avg 30.80%
  • zip code 35115

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