Rent, population, and median household income are important factors to consider for a 1031 exchange in Pontiac due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Pontiac, Michigan is a part of the Pontiac/Waterford Submarket submarket area, and contains 4 zip codes: 48343, 48340, 48342, and 48341.
Pontiac Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Pontiac, MI submarket area was $1,113, which is 19.55% lower than 2014 average rent. This represents a compounded annual growth rate of 3.64%. 2019 vacancy in Pontiac, MI was 3.50%.
The total population of the city of Pontiac, MI has grown 0.43% since 2010. As of 2018, the population was 59,772. The median household income of the Pontiac was $33,006, which is 45.26% lower than the national average.
- submarket area Pontiac / Waterford Submarket
- avg rent $1,113
- rent growth 19.55%
- vacancy 3.50%
- median income $33,006
- population (2018) 59,772
- population growth 0.43%
- vs. nat'l avg 45.26%
- zip codes 48340 48341 48342 48343