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1031 Exchange Cumberland, Indiana

 

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%

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