Rent, population, and median household income are important factors to consider for a 1031 exchange in Lawrence due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lawrence, Indiana is a part of the Far Northeast Submarket submarket area.
Lawrence Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lawrence, IN submarket area was $743, which is 11.73% lower than 2014 average rent. This represents a compounded annual growth rate of 2.24%. 2019 vacancy in Lawrence, IN was 6.70%.
The total population of the city of Lawrence, IN has grown 6.62% since 2010. As of 2018, the population was 49,046. The median household income of the Lawrence was $52,048, which is 13.67% lower than the national average.
- submarket area Far Northeast Submarket
- avg rent $743
- rent growth 11.73%
- vacancy 6.70%
- median income $52,048
- population (2018) 49,046
- population growth 6.62%
- vs. nat'l avg 13.67%
