1031 Exchange New Brighton, Minnesota

 

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

Surrounding submarket Area

New Brighton, Minnesota is a part of the Northeast Submarket submarket area.

New Brighton Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the New Brighton, MN submarket area was $1,068, which is 15.84% higher than 2014 average rent. This represents a compounded annual growth rate of 2.98%. 2019 vacancy in New Brighton, MN was 2.10%.

The total population of the city of New Brighton, MN has grown 6.73% since 2010. As of 2018, the population was 22,899. The median household income of the New Brighton was $69,357, which is 15.03% higher than the national average.

  • submarket area Northeast Submarket
  • avg rent $1,068
  • rent growth 15.84%
  • vacancy 2.10%
  • median income $69,357
  • population (2018) 22,899
  • population growth 6.73%
  • vs. nat'l avg 15.03%

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