1031 Exchange Carmel, Indiana

 

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: 46033, 46082, and 46032.

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

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