1031 Exchange Rochester, Minnesota

 

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

Surrounding metropolitan Area

Rochester, Minnesota is a part of the Rochester, MN metropolitan area, and contains 6 zip codes: 55906, 55901, 55902, 55905, 55904, and 55903.

Rochester Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Rochester, MN metropolitan area was $1,196, which is 28.88% lower than 2014 average rent. This represents a compounded annual growth rate of 5.21%. 2019 vacancy in Rochester, MN was 6.00%.

The total population of the city of Rochester, MN has decreased 2.03% since 2010. As of 2018, the population was 206,284. The median household income of the Rochester was $33,399, which is 44.61% lower than the national average.

  • metropolitan area Rochester, MN
  • avg rent $1,196
  • rent growth 28.88%
  • vacancy 6.00%
  • median income $33,399
  • population (2018) 206,284
  • population growth -2.03%
  • vs. nat'l avg 44.61%
  • zip codes 55901 55902 55903 55904 55905 55906

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