Rent, population, and median household income are important factors to consider for a 1031 exchange in Manitou Springs due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Manitou Springs, Colorado is a part of the Southwest Submarket submarket area, and contains zip code 80829.
Manitou Springs Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Manitou Springs, CO submarket area was $1,042, which is 23.90% higher than 2014 average rent. This represents a compounded annual growth rate of 4.38%. 2019 vacancy in Manitou Springs, CO was 3.00%.
The total population of the city of Manitou Springs, CO has grown 7.09% since 2010. As of 2018, the population was 5,346. The median household income of the Manitou Springs was $67,055, which is 11.22% higher than the national average.
- submarket area Southwest Submarket
- avg rent $1,042
- rent growth 23.90%
- vacancy 3.00%
- median income $67,055
- population (2018) 5,346
- population growth 7.09%
- vs. nat'l avg 11.22%
- zip code 80829