Rent, population, and median household income are important factors to consider for a 1031 exchange in Overland Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Overland Park, Missouri is a part of the Overland Park North Submarket submarket area.
Overland Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Overland Park, MO submarket area was $1,048, which is 23.29% higher than 2014 average rent. This represents a compounded annual growth rate of 4.28%. 2019 vacancy in Overland Park, MO was 5.70%.
The total population of the city of Overland Park, MO has grown 11.05% since 2010. As of 2018, the population was 192,536. The median household income of the Overland Park was $82,651, which is 37.08% higher than the national average.
- submarket area Overland Park North Submarket
- avg rent $1,048
- rent growth 23.29%
- vacancy 5.70%
- median income $82,651
- population (2018) 192,536
- population growth 11.05%
- vs. nat'l avg 37.08%
