Rent, population, and median household income are important factors to consider for a 1031 exchange in Woodbury due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Woodbury, Minnesota is a part of the Washington County Submarket submarket area.
Woodbury Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Woodbury, MN submarket area was $1,335, which is 18.56% higher than 2014 average rent. This represents a compounded annual growth rate of 3.46%. 2019 vacancy in Woodbury, MN was 3.00%.
The total population of the city of Woodbury, MN has grown 15.08% since 2010. As of 2018, the population was 71,306. The median household income of the Woodbury was $105,393, which is 74.80% higher than the national average.
- submarket area Washington County Submarket
- avg rent $1,335
- rent growth 18.56%
- vacancy 3.00%
- median income $105,393
- population (2018) 71,306
- population growth 15.08%
- vs. nat'l avg 74.80%
