1031 Exchange Wixom, Michigan

 

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

Surrounding submarket Area

Wixom, Michigan is a part of the Novi/Livonia Submarket submarket area, and contains zip code 48393.

Wixom Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Wixom, MI submarket area was $1,066, which is 12.92% lower than 2014 average rent. This represents a compounded annual growth rate of 2.46%. 2019 vacancy in Wixom, MI was 3.30%.

The total population of the city of Wixom, MI has grown 3.79% since 2010. As of 2018, the population was 14,010. The median household income of the Wixom was $54,861, which is 9.01% lower than the national average.

  • submarket area Novi / Livonia Submarket
  • avg rent $1,066
  • rent growth 12.92%
  • vacancy 3.30%
  • median income $54,861
  • population (2018) 14,010
  • population growth 3.79%
  • vs. nat'l avg 9.01%
  • zip code 48393

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