1031 Exchange Wyandotte, Michigan

 

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

Surrounding submarket Area

Wyandotte, Michigan is a part of the Downriver/South Wayne Submarket submarket area, and contains zip code 48192.

Wyandotte Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Wyandotte, MI submarket area was $906, which is 16.60% lower than 2014 average rent. This represents a compounded annual growth rate of 3.12%. 2019 vacancy in Wyandotte, MI was 2.30%.

The total population of the city of Wyandotte, MI has decreased 3.66% since 2010. As of 2018, the population was 24,935. The median household income of the Wyandotte was $53,110, which is 11.91% lower than the national average.

  • submarket area Downriver / South Wayne Submarket
  • avg rent $906
  • rent growth 16.60%
  • vacancy 2.30%
  • median income $53,110
  • population (2018) 24,935
  • population growth -3.66%
  • vs. nat'l avg 11.91%
  • zip code 48192

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