Rent, population, and median household income are important factors to consider for a 1031 exchange in Blue Springs due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Blue Springs, Missouri is a part of the Lee's Summit Submarket submarket area, and contains 3 zip codes: 64015, 64013, and 64014.
Blue Springs Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Blue Springs, MO submarket area was $1,044, which is 36.47% higher than 2014 average rent. This represents a compounded annual growth rate of 6.42%. 2019 vacancy in Blue Springs, MO was 2.50%.
The total population of the city of Blue Springs, MO has grown 4.81% since 2010. As of 2018, the population was 55,104. The median household income of the Blue Springs was $71,481, which is 18.56% higher than the national average.
- submarket area Lee's Summit Submarket
- avg rent $1,044
- rent growth 36.47%
- vacancy 2.50%
- median income $71,481
- population (2018) 55,104
- population growth 4.81%
- vs. nat'l avg 18.56%
- zip codes 64013 64014 64015