1031 Exchange Gary-Hammond, Indiana

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Gary-Hammond due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

The Gary-Hammond, Indiana metropolitan area contains 13 zip codes, including: 46401, 46409, 46324, 46320, 46408, and 46323.

Gary-Hammond Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Gary-Hammond, IN metropolitan area was $901, which is 11.51% lower than 2014 average rent. This represents a compounded annual growth rate of 2.20%. 2019 vacancy in Gary-Hammond, IN was 2.70%.

The total population of the city of Gary-Hammond, IN has decreased 6.23% since 2010. As of 2018, the population was 75,795. The median household income of the Gary-Hammond was $44,926, which is 25.49% lower than the national average.

  • metropolitan area
  • avg rent $901
  • rent growth 11.51%
  • vacancy 2.70%
  • median income $44,926
  • population (2018) 75,795
  • population growth -6.23%
  • vs. nat'l avg 25.49%
  • zip codes 46401 46402 46403 46404 46406 46407 46408 46409 46320 46323 46324 46325 46327

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