Rent, population, and median household income are important factors to consider for a 1031 exchange in Eden Prairie due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Eden Prairie, Minnesota is a part of the Southwest Submarket submarket area, and contains 3 zip codes: 55346, 55347, and 55344.
Eden Prairie Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Eden Prairie, MN submarket area was $1,310, which is 19.96% higher than 2014 average rent. This represents a compounded annual growth rate of 3.71%. 2019 vacancy in Eden Prairie, MN was 3.10%.
The total population of the city of Eden Prairie, MN has grown 5.82% since 2010. As of 2018, the population was 64,334. The median household income of the Eden Prairie was $106,555, which is 76.73% higher than the national average.
- submarket area Southwest Submarket
- avg rent $1,310
- rent growth 19.96%
- vacancy 3.10%
- median income $106,555
- population (2018) 64,334
- population growth 5.82%
- vs. nat'l avg 76.73%
- zip codes 55344 55346 55347