Rent, population, and median household income are important factors to consider for a 1031 exchange in Merriam due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Merriam, Missouri is a part of the Merriam/Mission Submarket submarket area.
Merriam Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Merriam, MO submarket area was $902, which is 15.94% lower than 2014 average rent. This represents a compounded annual growth rate of 3.00%. 2019 vacancy in Merriam, MO was 2.90%.
The total population of the city of Merriam, MO has grown 1.59% since 2010. As of 2018, the population was 11,178. The median household income of the Merriam was $59,643, which is 1.08% lower than the national average.
- submarket area Merriam / Mission Submarket
- avg rent $902
- rent growth 15.94%
- vacancy 2.90%
- median income $59,643
- population (2018) 11,178
- population growth 1.59%
- vs. nat'l avg 1.08%