1031 Exchange Grand Rapids, Michigan

 

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

Surrounding metropolitan Area

Grand Rapids, Michigan is a part of the Grand Rapids-Kentwood, MI metropolitan area, and contains 26 zip codes, including: 49588, 49546, 49502, 49548, 49523, and 49530.

Grand Rapids Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Grand Rapids, MI metropolitan area was $911, which is 26.53% lower than 2014 average rent. This represents a compounded annual growth rate of 4.82%. 2019 vacancy in Grand Rapids, MI was 4.70%.

The total population of the city of Grand Rapids, MI has grown 6.48% since 2010. As of 2018, the population was 200,217. The median household income of the Grand Rapids was $47,173, which is 21.76% lower than the national average.

  • metropolitan area Grand Rapids-Kentwood, MI
  • avg rent $911
  • rent growth 26.53%
  • vacancy 4.70%
  • median income $47,173
  • population (2018) 200,217
  • population growth 6.48%
  • vs. nat'l avg 21.76%
  • zip codes 49501 49502 49503 49504 49505 49506 49507 49508 49510 49512 49514 49515 49516 49518 49523 49525 49528 49530 49534 49544 49546 49548 49555 49560 49588 49599

Compare 1031 DST Properties
Side by Side

Simple & Easy to Understand

Side by Side Comparison of Investment Opportunities