Rent, population, and median household income are important factors to consider for a 1031 exchange in Carmel due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Carmel, Indiana is a part of the Hamilton County Submarket submarket area, and contains 3 zip codes: 46032, 46033, and 46082.
Carmel Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Carmel, IN submarket area was $1,179, which is 22.43% higher than 2014 average rent. This represents a compounded annual growth rate of 4.13%. 2019 vacancy in Carmel, IN was 6.80%.
The total population of the city of Carmel, IN has grown 18.08% since 2010. As of 2018, the population was 93,510. The median household income of the Carmel was $116,867, which is 93.83% higher than the national average.
- submarket area Hamilton County Submarket
- avg rent $1,179
- rent growth 22.43%
- vacancy 6.80%
- median income $116,867
- population (2018) 93,510
- population growth 18.08%
- vs. nat'l avg 93.83%
- zip codes 46032 46033 46082