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%
