1031 Exchange Southgate, Michigan

 

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

Surrounding submarket Area

Southgate, Michigan is a part of the Downriver/South Wayne Submarket submarket area, and contains zip code 48195.

Southgate Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Southgate, MI submarket area was $906, which is 16.60% lower than 2014 average rent. This represents a compounded annual growth rate of 3.12%. 2019 vacancy in Southgate, MI was 2.30%.

The total population of the city of Southgate, MI has decreased 3.19% since 2010. As of 2018, the population was 29,088. The median household income of the Southgate was $54,978, which is 8.82% lower than the national average.

  • submarket area Downriver / South Wayne Submarket
  • avg rent $906
  • rent growth 16.60%
  • vacancy 2.30%
  • median income $54,978
  • population (2018) 29,088
  • population growth -3.19%
  • vs. nat'l avg 8.82%
  • zip code 48195

Compare 1031 DST Properties
Side by Side

Simple & Easy to Understand

Side by Side Comparison of Investment Opportunities