1031 Exchange Madison Heights, Michigan


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

Surrounding submarket Area

Madison Heights, Michigan is a part of the Oak Park/Royal Oak Submarket submarket area, and contains zip code 48071.

Madison Heights Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Madison Heights, MI submarket area was $903, which is 17.89% lower than 2014 average rent. This represents a compounded annual growth rate of 3.35%. 2019 vacancy in Madison Heights, MI was 2.40%.

The total population of the city of Madison Heights, MI has grown 0.25% since 2010. As of 2018, the population was 30,039. The median household income of the Madison Heights was $50,350, which is 16.49% lower than the national average.

  • submarket area Oak Park / Royal Oak Submarket
  • avg rent $903
  • rent growth 17.89%
  • vacancy 2.40%
  • median income $50,350
  • population (2018) 30,039
  • population growth 0.25%
  • vs. nat'l avg 16.49%
  • zip code 48071

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