1031 Exchange Beverly Hills, Michigan

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Beverly Hills due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Beverly Hills, Michigan is a part of the Troy Submarket submarket area, and contains zip code 48025.

Beverly Hills Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Beverly Hills, MI submarket area was $1,293, which is 13.72% higher than 2014 average rent. This represents a compounded annual growth rate of 2.60%. 2019 vacancy in Beverly Hills, MI was 2.00%.

The total population of the city of Beverly Hills, MI has grown 1.39% since 2010. As of 2018, the population was 10,410. The median household income of the Beverly Hills was $116,107, which is 92.57% higher than the national average.

  • submarket area Troy Submarket
  • avg rent $1,293
  • rent growth 13.72%
  • vacancy 2.00%
  • median income $116,107
  • population (2018) 10,410
  • population growth 1.39%
  • vs. nat'l avg 92.57%
  • zip code 48025

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