1031 Exchange Independence, Missouri

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Independence due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Independence, Missouri is a part of the Independence Submarket submarket area, and contains 9 zip codes, including: 64052, 64055, 64053, 64056, 64057, and 64050.

Independence Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Independence, MO submarket area was $762, which is 11.40% lower than 2014 average rent. This represents a compounded annual growth rate of 2.18%. 2019 vacancy in Independence, MO was 3.60%.

The total population of the city of Independence, MO has grown 0.08% since 2010. As of 2018, the population was 116,925. The median household income of the Independence was $48,331, which is 19.84% lower than the national average.

  • submarket area Independence Submarket
  • avg rent $762
  • rent growth 11.40%
  • vacancy 3.60%
  • median income $48,331
  • population (2018) 116,925
  • population growth 0.08%
  • vs. nat'l avg 19.84%
  • zip codes 64050 64051 64052 64053 64054 64055 64056 64057 64058

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