Rent, population, and median household income are important factors to consider for a 1031 exchange in Rochester Hills due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Rochester Hills, Michigan is a part of the Pontiac/Waterford Submarket submarket area.
Rochester Hills Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rochester Hills, MI submarket area was $1,113, which is 19.55% higher than 2014 average rent. This represents a compounded annual growth rate of 3.64%. 2019 vacancy in Rochester Hills, MI was 3.50%.
The total population of the city of Rochester Hills, MI has grown 5.21% since 2010. As of 2018, the population was 74,696. The median household income of the Rochester Hills was $90,961, which is 50.86% higher than the national average.
- submarket area Pontiac / Waterford Submarket
- avg rent $1,113
- rent growth 19.55%
- vacancy 3.50%
- median income $90,961
- population (2018) 74,696
- population growth 5.21%
- vs. nat'l avg 50.86%
