Rent, population, and median household income are important factors to consider for a 1031 exchange in Franklin due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Franklin, Indiana is a part of the Johnson County Submarket submarket area, and contains zip code 46131.
Franklin Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Franklin, IN submarket area was $806, which is 14.81% lower than 2014 average rent. This represents a compounded annual growth rate of 2.80%. 2019 vacancy in Franklin, IN was 2.00%.
The total population of the city of Franklin, IN has grown 6.48% since 2010. As of 2018, the population was 25,248. The median household income of the Franklin was $59,064, which is 2.04% lower than the national average.
- submarket area Johnson County Submarket
- avg rent $806
- rent growth 14.81%
- vacancy 2.00%
- median income $59,064
- population (2018) 25,248
- population growth 6.48%
- vs. nat'l avg 2.04%
- zip code 46131