Rent, population, and median household income are important factors to consider for a 1031 exchange in Parkville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Parkville, Missouri is a part of the Platte Submarket submarket area.
Parkville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Parkville, MO submarket area was $959, which is 22.32% higher than 2014 average rent. This represents a compounded annual growth rate of 4.11%. 2019 vacancy in Parkville, MO was 4.90%.
The total population of the city of Parkville, MO has grown 25.12% since 2010. As of 2018, the population was 6,949. The median household income of the Parkville was $127,887, which is 112.11% higher than the national average.
- submarket area Platte Submarket
- avg rent $959
- rent growth 22.32%
- vacancy 4.90%
- median income $127,887
- population (2018) 6,949
- population growth 25.12%
- vs. nat'l avg 112.11%