Rent, population, and median household income are important factors to consider for a 1031 exchange in Apple Valley due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Apple Valley, Minnesota is a part of the Dakota County Submarket submarket area.
Apple Valley Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Apple Valley, MN submarket area was $1,280, which is 25.74% higher than 2014 average rent. This represents a compounded annual growth rate of 4.69%. 2019 vacancy in Apple Valley, MN was 3.50%.
The total population of the city of Apple Valley, MN has grown 10.26% since 2010. As of 2018, the population was 54,121. The median household income of the Apple Valley was $87,164, which is 44.57% higher than the national average.
- submarket area Dakota County Submarket
- avg rent $1,280
- rent growth 25.74%
- vacancy 3.50%
- median income $87,164
- population (2018) 54,121
- population growth 10.26%
- vs. nat'l avg 44.57%