Rent, population, and median household income are important factors to consider for a 1031 exchange in Brownstown due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Brownstown, Michigan is a part of the Downriver/South Wayne Submarket submarket area.
Brownstown Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Brownstown, MI submarket area was $906, which is 16.60% higher than 2014 average rent. This represents a compounded annual growth rate of 3.12%. 2019 vacancy in Brownstown, MI was 2.30%.
The total population of the city of Brownstown, MI has grown 4.19% since 2010. As of 2018, the population was 31,910. The median household income of the Brownstown was $74,630, which is 23.78% higher than the national average.
- submarket area Downriver / South Wayne Submarket
- avg rent $906
- rent growth 16.60%
- vacancy 2.30%
- median income $74,630
- population (2018) 31,910
- population growth 4.19%
- vs. nat'l avg 23.78%
