1031 Exchange West Bloomfield, Michigan

 

Surrounding submarket Area

West Bloomfield, Michigan is a part of the Farmington Hills Submarket submarket area, and contains 4 zip codes: 48325, 48324, 48322, and 48323.

West Bloomfield Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the West Bloomfield, MI submarket area was $1,186, which is 11.57% higher than 2014 average rent. This represents a compounded annual growth rate of 2.21%. 2019 vacancy in West Bloomfield, MI was 2.70%.

The total population of the city of West Bloomfield, MI has grown 1.90% since 2010. As of 2018, the population was 65,916. The median household income of the West Bloomfield was $100,139, which is 66.09% higher than the national average.

  • submarket area Farmington Hills Submarket
  • avg rent $1,186
  • rent growth 11.57%
  • vacancy 2.70%
  • median income $100,139
  • population (2018) 65,916
  • population growth 1.90%
  • vs. nat'l avg 66.09%
  • zip codes 48322 48323 48324 48325

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