Rent, population, and median household income are important factors to consider for a 1031 exchange in Plymouth due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Plymouth, Minnesota is a part of the West Submarket submarket area.
Plymouth Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Plymouth, 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 Plymouth, MN was 3.80%.
The total population of the city of Plymouth, MN has grown 12.57% since 2010. As of 2018, the population was 79,450. The median household income of the Plymouth was $100,280, which is 66.32% higher than the national average.
- submarket area West Submarket
- avg rent $1,424
- rent growth 23.40%
- vacancy 3.80%
- median income $100,280
- population (2018) 79,450
- population growth 12.57%
- vs. nat'l avg 66.32%
