Rent, population, and median household income are important factors to consider for a 1031 exchange in Medina due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Medina, Minnesota is a part of the West Submarket submarket area.
Medina Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Medina, MN submarket area was $1,424, which is 23.40% higher than 2014 average rent. This represents a compounded annual growth rate of 4.29%. 2019 vacancy in Medina, MN was 3.80%.
The total population of the city of Medina, MN has grown 34.93% since 2010. As of 2018, the population was 6,601. The median household income of the Medina was $144,107, which is 139.01% higher than the national average.
- submarket area West Submarket
- avg rent $1,424
- rent growth 23.40%
- vacancy 3.80%
- median income $144,107
- population (2018) 6,601
- population growth 34.93%
- vs. nat'l avg 139.01%