Rent, population, and median household income are important factors to consider for a 1031 exchange in Champlin due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Champlin, Minnesota is a part of the Northwest/Anoka County Submarket submarket area, and contains zip code 55316.
Champlin Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Champlin, MN submarket area was $1,132, which is 22.78% higher than 2014 average rent. This represents a compounded annual growth rate of 4.19%. 2019 vacancy in Champlin, MN was 4.40%.
The total population of the city of Champlin, MN has grown 9.78% since 2010. As of 2018, the population was 25,346. The median household income of the Champlin was $87,692, which is 45.44% higher than the national average.
- submarket area Northwest / Anoka County Submarket
- avg rent $1,132
- rent growth 22.78%
- vacancy 4.40%
- median income $87,692
- population (2018) 25,346
- population growth 9.78%
- vs. nat'l avg 45.44%
- zip code 55316
