Rent, population, and median household income are important factors to consider for a 1031 exchange in St. Louis Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
St. Louis Park, Minnesota is a part of the West Submarket submarket area.
St. Louis Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the St. Louis Park, 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 St. Louis Park, MN was 3.80%.
The total population of the city of St. Louis Park, MN has grown 8.37% since 2010. As of 2018, the population was 49,039. The median household income of the St. Louis Park was $75,690, which is 25.54% higher than the national average.
- submarket area West Submarket
- avg rent $1,424
- rent growth 23.40%
- vacancy 3.80%
- median income $75,690
- population (2018) 49,039
- population growth 8.37%
- vs. nat'l avg 25.54%