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
