1031 Exchange Minnetonka, Minnesota

 

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

Surrounding submarket Area

Minnetonka, Minnesota is a part of the West Submarket submarket area, and contains zip code 55345.

Minnetonka Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Minnetonka, 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 Minnetonka, MN was 3.80%.

The total population of the city of Minnetonka, MN has grown 8.48% since 2010. As of 2018, the population was 53,953. The median household income of the Minnetonka was $91,374, which is 51.55% higher than the national average.

  • submarket area West Submarket
  • avg rent $1,424
  • rent growth 23.40%
  • vacancy 3.80%
  • median income $91,374
  • population (2018) 53,953
  • population growth 8.48%
  • vs. nat'l avg 51.55%
  • zip code 55345

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