Rent, population, and median household income are important factors to consider for a 1031 exchange in Ramsey due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Ramsey, Minnesota is a part of the Northwest/Anoka County Submarket submarket area.
Ramsey Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Ramsey, MN submarket area was $1,132, which is 22.78% higher than 2014 average rent. This represents a compounded annual growth rate of 4.19%. 2019 vacancy in Ramsey, MN was 4.40%.
The total population of the city of Ramsey, MN has grown 13.77% since 2010. As of 2018, the population was 26,928. The median household income of the Ramsey was $96,692, which is 60.37% higher than the national average.
- submarket area Northwest / Anoka County Submarket
- avg rent $1,132
- rent growth 22.78%
- vacancy 4.40%
- median income $96,692
- population (2018) 26,928
- population growth 13.77%
- vs. nat'l avg 60.37%