Rent, population, and median household income are important factors to consider for a 1031 exchange in Lebanon due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lebanon, Indiana is a part of the Boone/Hendricks Submarket submarket area, and contains zip code 46052.
Lebanon Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lebanon, IN submarket area was $1,045, which is 23.23% lower than 2014 average rent. This represents a compounded annual growth rate of 4.27%. 2019 vacancy in Lebanon, IN was 5.90%.
The total population of the city of Lebanon, IN has grown 2.06% since 2010. As of 2018, the population was 16,117. The median household income of the Lebanon was $50,480, which is 16.28% lower than the national average.
- submarket area Boone / Hendricks Submarket
- avg rent $1,045
- rent growth 23.23%
- vacancy 5.90%
- median income $50,480
- population (2018) 16,117
- population growth 2.06%
- vs. nat'l avg 16.28%
- zip code 46052