Rent, population, and median household income are important factors to consider for a 1031 exchange in Shorewood due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Shorewood, Minnesota is a part of the West Submarket submarket area.
Shorewood Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Shorewood, 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 Shorewood, MN was 3.80%.
The total population of the city of Shorewood, MN has grown 9.13% since 2010. As of 2018, the population was 7,974. The median household income of the Shorewood was $129,483, which is 114.76% higher than the national average.
- submarket area West Submarket
- avg rent $1,424
- rent growth 23.40%
- vacancy 3.80%
- median income $129,483
- population (2018) 7,974
- population growth 9.13%
- vs. nat'l avg 114.76%