Rent, population, and median household income are important factors to consider for a 1031 exchange in Lincoln Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lincoln Park, Michigan is a part of the Downriver/South Wayne Submarket submarket area, and contains zip code 48148.
Lincoln Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lincoln Park, MI submarket area was $906, which is 16.60% lower than 2014 average rent. This represents a compounded annual growth rate of 3.12%. 2019 vacancy in Lincoln Park, MI was 2.30%.
The total population of the city of Lincoln Park, MI has decreased 4.27% since 2010. As of 2018, the population was 36,517. The median household income of the Lincoln Park was $43,470, which is 27.90% lower than the national average.
- submarket area Downriver / South Wayne Submarket
- avg rent $906
- rent growth 16.60%
- vacancy 2.30%
- median income $43,470
- population (2018) 36,517
- population growth -4.27%
- vs. nat'l avg 27.90%
- zip code 48148