Rent, population, and median household income are important factors to consider for a 1031 exchange in Prairie Village due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Prairie Village, Missouri is a part of the Merriam/Mission Submarket submarket area.
Prairie Village Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Prairie Village, MO submarket area was $902, which is 15.94% higher than 2014 average rent. This represents a compounded annual growth rate of 3.00%. 2019 vacancy in Prairie Village, MO was 2.90%.
The total population of the city of Prairie Village, MO has grown 4.39% since 2010. As of 2018, the population was 22,389. The median household income of the Prairie Village was $88,635, which is 47.01% higher than the national average.
- submarket area Merriam / Mission Submarket
- avg rent $902
- rent growth 15.94%
- vacancy 2.90%
- median income $88,635
- population (2018) 22,389
- population growth 4.39%
- vs. nat'l avg 47.01%