1031 Exchange Minneapolis, Minnesota

 

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

Surrounding metropolitan Area

Minneapolis, Minnesota is a part of the Minneapolis-St.Paul-Bloomington, MN-WI metropolitan area, and contains 68 zip codes, including: 55436, 55426, 55407, 55450, 55443, and 55487.

Minneapolis Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Minneapolis, MN metropolitan area was $1,320, which is 23.83% lower than 2014 average rent. This represents a compounded annual growth rate of 4.37%. 2019 vacancy in Minneapolis, MN was 4.20%.

The total population of the city of Minneapolis, MN has grown 11.19% since 2010. As of 2018, the population was 425,403. The median household income of the Minneapolis was $58,993, which is 2.16% lower than the national average.

  • metropolitan area Minneapolis-St.Paul-Bloomington, MN-WI
  • avg rent $1,320
  • rent growth 23.83%
  • vacancy 4.20%
  • median income $58,993
  • population (2018) 425,403
  • population growth 11.19%
  • vs. nat'l avg 2.16%
  • zip codes 55401 55402 55403 55404 55405 55406 55407 55408 55409 55410 55411 55412 55413 55414 55415 55416 55417 55418 55419 55420 55421 55422 55423 55424 55425 55426 55427 55428 55429 55430 55431 55432 55433 55434 55435 55436 55437 55438 55439 55440 55441 55442 55443 55444 55445 55446 55447 55448 55449 55450 55454 55455 55458 55459 55460 55467 55470 55472 55474 55478 55479 55480 55483 55484 55485 55486 55487 55488

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