Rent, population, and median household income are important factors to consider for a 1031 exchange in Shoreview due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Shoreview, Minnesota is a part of the Northeast Submarket submarket area.
Shoreview Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Shoreview, 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 Shoreview, MN was 2.10%.
The total population of the city of Shoreview, MN has grown 8.65% since 2010. As of 2018, the population was 27,210. The median household income of the Shoreview was $87,920, which is 45.82% higher than the national average.
- submarket area Northeast Submarket
- avg rent $1,068
- rent growth 15.84%
- vacancy 2.10%
- median income $87,920
- population (2018) 27,210
- population growth 8.65%
- vs. nat'l avg 45.82%