1031 Exchange Warren, Michigan

 

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

Surrounding submarket Area

Warren, Michigan is a part of the Macomb County Submarket submarket area, and contains 7 zip codes, including: 48091, 48090, 48089, 48092, 48088, and 48093.

Warren Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Warren, 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 Warren, MI was 3.20%.

The total population of the city of Warren, MI has decreased 74.20% since 2010. As of 2018, the population was 34,587. The median household income of the Warren was $47,919, which is 20.52% lower than the national average.

  • submarket area Macomb County Submarket
  • avg rent $919
  • rent growth 15.45%
  • vacancy 3.20%
  • median income $47,919
  • population (2018) 34,587
  • population growth -74.20%
  • vs. nat'l avg 20.52%
  • zip codes 48088 48089 48090 48091 48092 48093 48397

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