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%