1031 Exchange Duluth, Minnesota

 

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

Surrounding metropolitan Area

Duluth, Minnesota is a part of the Duluth, MN-WI metropolitan area, and contains 14 zip codes, including: 55814, 55802, 55804, 55806, 55807, and 55816.

Duluth Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Duluth, MN metropolitan area was $1,180, which is 35.63% lower than 2014 average rent. This represents a compounded annual growth rate of 6.29%. 2019 vacancy in Duluth, MN was 2.90%.

The total population of the city of Duluth, MN has decreased 0.44% since 2010. As of 2018, the population was 85,884. The median household income of the Duluth was $49,441, which is 18.00% lower than the national average.

  • metropolitan area Duluth, MN-WI
  • avg rent $1,180
  • rent growth 35.63%
  • vacancy 2.90%
  • median income $49,441
  • population (2018) 85,884
  • population growth -0.44%
  • vs. nat'l avg 18.00%
  • zip codes 55801 55802 55803 55804 55805 55806 55807 55808 55810 55811 55812 55814 55815 55816

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