Rent, population, and median household income are important factors to consider for a 1031 exchange in Lenexa due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lenexa, Missouri is a part of the Shawnee/Lenexa Submarket submarket area.
Lenexa Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lenexa, MO submarket area was $1,089, which is 34.44% higher than 2014 average rent. This represents a compounded annual growth rate of 6.10%. 2019 vacancy in Lenexa, MO was 4.50%.
The total population of the city of Lenexa, MO has grown 14.74% since 2010. As of 2018, the population was 55,294. The median household income of the Lenexa was $84,370, which is 39.93% higher than the national average.
- submarket area Shawnee / Lenexa Submarket
- avg rent $1,089
- rent growth 34.44%
- vacancy 4.50%
- median income $84,370
- population (2018) 55,294
- population growth 14.74%
- vs. nat'l avg 39.93%