Rent, population, and median household income are important factors to consider for a 1031 exchange in Dearborn Heights due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Dearborn Heights, Michigan is a part of the Dearborn/Dearborn Heights Submarket submarket area, and contains zip codes 48125 and 48127.
Dearborn Heights Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Dearborn Heights, MI submarket area was $995, which is 16.51% lower than 2014 average rent. This represents a compounded annual growth rate of 3.10%. 2019 vacancy in Dearborn Heights, MI was 2.40%.
The total population of the city of Dearborn Heights, MI has decreased 3.74% since 2010. As of 2018, the population was 55,616. The median household income of the Dearborn Heights was $49,405, which is 18.06% lower than the national average.
- submarket area Dearborn / Dearborn Heights Submarket
- avg rent $995
- rent growth 16.51%
- vacancy 2.40%
- median income $49,405
- population (2018) 55,616
- population growth -3.74%
- vs. nat'l avg 18.06%
- zip codes 48125 48127