Rent, population, and median household income are important factors to consider for a 1031 exchange in Ann Arbor due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Ann Arbor, Michigan is a part of the Ann Arbor Submarket submarket area, and contains 8 zip codes, including: 48106, 48107, 48108, 48109, 48103, and 48104.
Ann Arbor Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Ann Arbor, MI submarket area was $1,264, which is 24.53% higher than 2014 average rent. This represents a compounded annual growth rate of 4.49%. 2019 vacancy in Ann Arbor, MI was 2.10%.
The total population of the city of Ann Arbor, MI has grown 6.98% since 2010. As of 2018, the population was 121,890. The median household income of the Ann Arbor was $63,956, which is 6.08% higher than the national average.
- submarket area Ann Arbor Submarket
- avg rent $1,264
- rent growth 24.53%
- vacancy 2.10%
- median income $63,956
- population (2018) 121,890
- population growth 6.98%
- vs. nat'l avg 6.08%
- zip codes 48103 48104 48105 48106 48107 48108 48109 48113