Rent, population, and median household income are important factors to consider for a 1031 exchange in Cumberland due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Cumberland, Indiana is a part of the Southeast Submarket submarket area.
Cumberland Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Cumberland, IN submarket area was $820, which is 17.48% higher than 2014 average rent. This represents a compounded annual growth rate of 3.27%. 2019 vacancy in Cumberland, IN was 5.10%.
The total population of the city of Cumberland, IN has grown 12.79% since 2010. As of 2018, the population was 5,830. The median household income of the Cumberland was $72,626, which is 20.46% higher than the national average.
- submarket area Southeast Submarket
- avg rent $820
- rent growth 17.48%
- vacancy 5.10%
- median income $72,626
- population (2018) 5,830
- population growth 12.79%
- vs. nat'l avg 20.46%
