1031 Exchange Huntington Woods, Michigan

 

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

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