Rent, population, and median household income are important factors to consider for a 1031 exchange in Huntington Woods due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Huntington Woods, Michigan is a part of the Oak Park/Royal Oak Submarket submarket area, and contains zip code 48070.
Huntington Woods Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Huntington Woods, MI submarket area was $903, which is 17.89% higher than 2014 average rent. This represents a compounded annual growth rate of 3.35%. 2019 vacancy in Huntington Woods, MI was 2.40%.
The total population of the city of Huntington Woods, MI has grown 1.19% since 2010. As of 2018, the population was 6,312. The median household income of the Huntington Woods was $103,417, which is 71.52% higher than the national average.
- submarket area Oak Park / Royal Oak Submarket
- avg rent $903
- rent growth 17.89%
- vacancy 2.40%
- median income $103,417
- population (2018) 6,312
- population growth 1.19%
- vs. nat'l avg 71.52%
- zip code 48070