Rent, population, and median household income are important factors to consider for a 1031 exchange in Trenton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Trenton, Michigan is a part of the Downriver/South Wayne Submarket submarket area, and contains zip code 48183.
Trenton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Trenton, MI submarket area was $906, which is 16.60% higher than 2014 average rent. This represents a compounded annual growth rate of 3.12%. 2019 vacancy in Trenton, MI was 2.30%.
The total population of the city of Trenton, MI has decreased 3.36% since 2010. As of 2018, the population was 18,220. The median household income of the Trenton was $64,167, which is 6.43% higher than the national average.
- submarket area Downriver / South Wayne Submarket
- avg rent $906
- rent growth 16.60%
- vacancy 2.30%
- median income $64,167
- population (2018) 18,220
- population growth -3.36%
- vs. nat'l avg 6.43%
- zip code 48183