Rent, population, and median household income are important factors to consider for a 1031 exchange in Elkhart due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Elkhart, Indiana is a part of the Elkhart-Goshen, IN metropolitan area, and contains 4 zip codes: 46516, 46515, 46517, and 46514.
Elkhart Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Elkhart, IN metropolitan area was $849, which is 19.58% lower than 2014 average rent. This represents a compounded annual growth rate of 3.64%. 2019 vacancy in Elkhart, IN was 4.00%.
The total population of the city of Elkhart, IN has grown 2.78% since 2010. As of 2018, the population was 52,367. The median household income of the Elkhart was $40,440, which is 32.93% lower than the national average.
- metropolitan area Elkhart-Goshen, IN
- avg rent $849
- rent growth 19.58%
- vacancy 4.00%
- median income $40,440
- population (2018) 52,367
- population growth 2.78%
- vs. nat'l avg 32.93%
- zip codes 46514 46515 46516 46517