Rent, population, and median household income are important factors to consider for a 1031 exchange in White Bear Lake due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
White Bear Lake, Minnesota is a part of the Northeast Submarket submarket area.
White Bear Lake Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the White Bear Lake, 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 White Bear Lake, MN was 2.10%.
The total population of the city of White Bear Lake, MN has grown 8.97% since 2010. As of 2018, the population was 25,932. The median household income of the White Bear Lake was $70,012, which is 16.12% higher than the national average.
- submarket area Northeast Submarket
- avg rent $1,068
- rent growth 15.84%
- vacancy 2.10%
- median income $70,012
- population (2018) 25,932
- population growth 8.97%
- vs. nat'l avg 16.12%