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1031 Exchange Kalamazoo, Michigan

 

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

Surrounding metropolitan area Area

Kalamazoo, Michigan is a part of the Kalamazoo-Portage, MI metropolitan area area, and contains 10 zip codes, including: 49004, 49003, 49019, 49008, 49006, and 49005.

Kalamazoo Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Kalamazoo, MI metropolitan area area was $785, which is 14.60% lower than 2014 average rent. This represents a compounded annual growth rate of 2.76%. 2019 vacancy in Kalamazoo, MI was 2.70%.

The total population of the city of Kalamazoo, MI has grown 3.07% since 2010. As of 2018, the population was 76,545. The median household income of the Kalamazoo was $40,292, which is 33.17% lower than the national average.

  • metropolitan area area Kalamazoo-Portage, MI
  • avg rent $785
  • rent growth 14.60%
  • vacancy 2.70%
  • median income $40,292
  • population (2018) 76,545
  • population growth 3.07%
  • vs. nat'l avg 33.17%
  • zip codes 49001 49003 49004 49005 49006 49007 49008 49009 49019 49048

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