1031 Exchange Utica, Michigan

 

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

Surrounding submarket Area

Utica, Michigan is a part of the Macomb County Submarket submarket area, and contains 4 zip codes: 48316, 48315, 48318, and 48317.

Utica Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Utica, MI submarket area was $919, which is 15.45% lower than 2014 average rent. This represents a compounded annual growth rate of 2.92%. 2019 vacancy in Utica, MI was 3.20%.

The total population of the city of Utica, MI has grown 8.34% since 2010. As of 2018, the population was 5,143. The median household income of the Utica was $53,056, which is 12.00% lower than the national average.

  • submarket area Macomb County Submarket
  • avg rent $919
  • rent growth 15.45%
  • vacancy 3.20%
  • median income $53,056
  • population (2018) 5,143
  • population growth 8.34%
  • vs. nat'l avg 12.00%
  • zip codes 48315 48316 48317 48318

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