Rent, population, and median household income are important factors to consider for a 1031 exchange in Burnsville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Burnsville, Minnesota is a part of the Dakota County Submarket submarket area, and contains zip codes 55306 and 55337.
Burnsville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Burnsville, 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 Burnsville, MN was 3.50%.
The total population of the city of Burnsville, MN has grown 1.49% since 2010. As of 2018, the population was 61,203. The median household income of the Burnsville was $70,600, which is 17.09% higher than the national average.
- submarket area Dakota County Submarket
- avg rent $1,280
- rent growth 25.74%
- vacancy 3.50%
- median income $70,600
- population (2018) 61,203
- population growth 1.49%
- vs. nat'l avg 17.09%
- zip codes 55306 55337