1031 Exchange Bloomington, Indiana

 

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

Surrounding metropolitan Area

Bloomington, Indiana is a part of the Minneapolis-St.Paul-Bloomington, MN-WI metropolitan area, and contains 8 zip codes, including: 47404, 47406, 47408, 47402, 47401, and 47403.

Bloomington Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Bloomington, IN metropolitan area was $867, which is 14.68% lower than 2014 average rent. This represents a compounded annual growth rate of 2.78%. 2019 vacancy in Bloomington, IN was 3.90%.

The total population of the city of Bloomington, IN has grown 5.69% since 2010. As of 2018, the population was 84,981. The median household income of the Bloomington was $34,435, which is 42.89% lower than the national average.

  • metropolitan area Minneapolis-St.Paul-Bloomington, MN-WI
  • avg rent $867
  • rent growth 14.68%
  • vacancy 3.90%
  • median income $34,435
  • population (2018) 84,981
  • population growth 5.69%
  • vs. nat'l avg 42.89%
  • zip codes 47401 47402 47403 47404 47405 47406 47407 47408

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