Rent, population, and median household income are important factors to consider for a 1031 exchange in Ypsilanti due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Ypsilanti, Michigan is a part of the Ann Arbor Submarket submarket area, and contains zip codes 48197 and 18198.
Ypsilanti Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Ypsilanti, MI submarket area was $1,264, which is 24.53% lower than 2014 average rent. This represents a compounded annual growth rate of 4.49%. 2019 vacancy in Ypsilanti, MI was 2.10%.
The total population of the city of Ypsilanti, MI has grown 8.03% since 2010. As of 2018, the population was 20,995. The median household income of the Ypsilanti was $36,982, which is 38.66% lower than the national average.
- submarket area Ann Arbor Submarket
- avg rent $1,264
- rent growth 24.53%
- vacancy 2.10%
- median income $36,982
- population (2018) 20,995
- population growth 8.03%
- vs. nat'l avg 38.66%
- zip codes 48197 18198