Rent, population, and median household income are important factors to consider for a 1031 exchange in Mount Rainier due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Mount Rainier, Maryland is a part of the Hyattsville Submarket submarket area, and contains zip code 20712.
Mount Rainier Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Mount Rainier, MD submarket area was $1,448, which is 14.29% lower than 2014 average rent. This represents a compounded annual growth rate of 2.71%. 2019 vacancy in Mount Rainier, MD was 3.50%.
The total population of the city of Mount Rainier, MD has grown 0.30% since 2010. As of 2018, the population was 8,104. The median household income of the Mount Rainier was $53,869, which is 10.65% lower than the national average.
- submarket area Hyattsville Submarket
- avg rent $1,448
- rent growth 14.29%
- vacancy 3.50%
- median income $53,869
- population (2018) 8,104
- population growth 0.30%
- vs. nat'l avg 10.65%
- zip code 20712
