Rent, population, and median household income are important factors to consider for a 1031 exchange in Macomb due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Macomb, Michigan is a part of the Macomb County Submarket submarket area, and contains zip codes 48042 and 48044.
Macomb Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Macomb, MI submarket area was $919, which is 15.45% higher than 2014 average rent. This represents a compounded annual growth rate of 2.92%. 2019 vacancy in Macomb, MI was 3.20%.
The total population of the city of Macomb, MI has grown 14.05% since 2010. As of 2018, the population was 90,758. The median household income of the Macomb was $98,465, which is 63.31% higher than the national average.
- submarket area Macomb County Submarket
- avg rent $919
- rent growth 15.45%
- vacancy 3.20%
- median income $98,465
- population (2018) 90,758
- population growth 14.05%
- vs. nat'l avg 63.31%
- zip codes 48042 48044
