Rent, population, and median household income are important factors to consider for a 1031 exchange in Maple Grove due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Maple Grove, Minnesota is a part of the Northwest/Anoka County Submarket submarket area, and contains zip code 55331.
Maple Grove Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Maple Grove, 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 Maple Grove, MN was 4.40%.
The total population of the city of Maple Grove, MN has grown 16.63% since 2010. As of 2018, the population was 71,807. The median household income of the Maple Grove was $105,369, which is 74.76% higher than the national average.
- submarket area Northwest / Anoka County Submarket
- avg rent $1,132
- rent growth 22.78%
- vacancy 4.40%
- median income $105,369
- population (2018) 71,807
- population growth 16.63%
- vs. nat'l avg 74.76%
- zip code 55331