Rent, population, and median household income are important factors to consider for a 1031 exchange in Mound due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Mound, Minnesota is a part of the West Submarket submarket area, and contains zip code 55364.
Mound Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Mound, 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 Mound, MN was 3.80%.
The total population of the city of Mound, MN has grown 5.28% since 2010. As of 2018, the population was 9,530. The median household income of the Mound was $86,432, which is 43.35% higher than the national average.
- submarket area West Submarket
- avg rent $1,424
- rent growth 23.40%
- vacancy 3.80%
- median income $86,432
- population (2018) 9,530
- population growth 5.28%
- vs. nat'l avg 43.35%
- zip code 55364
