Rent, population, and median household income are important factors to consider for a 1031 exchange in Raytown due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Raytown, Missouri is a part of the Raytown Submarket submarket area.
Raytown Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Raytown, MO submarket area was $768, which is 16.19% lower than 2014 average rent. This represents a compounded annual growth rate of 3.05%. 2019 vacancy in Raytown, MO was 2.30%.
The total population of the city of Raytown, MO has decreased 1.81% since 2010. As of 2018, the population was 28,993. The median household income of the Raytown was $52,650, which is 12.68% lower than the national average.
- submarket area Raytown Submarket
- avg rent $768
- rent growth 16.19%
- vacancy 2.30%
- median income $52,650
- population (2018) 28,993
- population growth -1.81%
- vs. nat'l avg 12.68%