Rent, population, and median household income are important factors to consider for a 1031 exchange in Shakopee due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Shakopee, Minnesota is a part of the Southwest Submarket submarket area, and contains zip code 55379.
Shakopee Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Shakopee, MN submarket area was $1,310, which is 19.96% higher than 2014 average rent. This represents a compounded annual growth rate of 3.71%. 2019 vacancy in Shakopee, MN was 3.10%.
The total population of the city of Shakopee, MN has grown 11.56% since 2010. As of 2018, the population was 41,362. The median household income of the Shakopee was $83,565, which is 38.60% higher than the national average.
- submarket area Southwest Submarket
- avg rent $1,310
- rent growth 19.96%
- vacancy 3.10%
- median income $83,565
- population (2018) 41,362
- population growth 11.56%
- vs. nat'l avg 38.60%
- zip code 55379