Rent, population, and median household income are important factors to consider for a 1031 exchange in Pittsfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Pittsfield, Michigan is a part of the Ann Arbor Submarket submarket area.
Pittsfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Pittsfield, MI submarket area was $1,264, which is 24.53% lower than 2014 average rent. This represents a compounded annual growth rate of 4.49%. 2019 vacancy in Pittsfield, MI was 2.10%.
The total population of the city of Pittsfield, MI has decreased 4.93% since 2010. As of 2018, the population was 42,533. The median household income of the Pittsfield was $48,555, which is 19.47% lower than the national average.
- submarket area Ann Arbor Submarket
- avg rent $1,264
- rent growth 24.53%
- vacancy 2.10%
- median income $48,555
- population (2018) 42,533
- population growth -4.93%
- vs. nat'l avg 19.47%
