Rent, population, and median household income are important factors to consider for a 1031 exchange in Muncie due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Muncie, Indiana is a part of the Muncie, IN metropolitan area, and contains 7 zip codes, including: 47303, 47304, 47305, 47306, 47308, and 47302.
Muncie Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Muncie, IN metropolitan area was $695, which is 4.67% lower than 2014 average rent. This represents a compounded annual growth rate of 0.92%. 2019 vacancy in Muncie, IN was 4.60%.
The total population of the city of Muncie, IN has decreased 2.22% since 2010. As of 2018, the population was 68,529. The median household income of the Muncie was $33,616, which is 44.25% lower than the national average.
- metropolitan area Muncie, IN
- avg rent $695
- rent growth 4.67%
- vacancy 4.60%
- median income $33,616
- population (2018) 68,529
- population growth -2.22%
- vs. nat'l avg 44.25%
- zip codes 47302 47303 47304 47305 47306 47307 47308
