1031 Exchange Superior, Michigan

 

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

Surrounding submarket Area

Superior, Michigan is a part of the Ann Arbor Submarket submarket area.

Superior Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Superior, MI submarket area was $1,264, which is 24.53% higher than 2014 average rent. This represents a compounded annual growth rate of 4.49%. 2019 vacancy in Superior, MI was 2.10%.

The total population of the city of Superior, MI has grown 8.71% since 2010. As of 2018, the population was 14,196. The median household income of the Superior was $68,275, which is 13.24% higher than the national average.

  • submarket area Ann Arbor Submarket
  • avg rent $1,264
  • rent growth 24.53%
  • vacancy 2.10%
  • median income $68,275
  • population (2018) 14,196
  • population growth 8.71%
  • vs. nat'l avg 13.24%

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