Rent, population, and median household income are important factors to consider for a 1031 exchange in Shrewsbury due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Shrewsbury, Missouri is a part of the East of I-44 Submarket submarket area.
Shrewsbury Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Shrewsbury, MO submarket area was $755, which is 13.36% lower than 2014 average rent. This represents a compounded annual growth rate of 2.54%. 2019 vacancy in Shrewsbury, MO was 2.00%.
The total population of the city of Shrewsbury, MO has decreased 2.24% since 2010. As of 2018, the population was 6,114. The median household income of the Shrewsbury was $55,804, which is 7.45% lower than the national average.
- submarket area East of I-44 Submarket
- avg rent $755
- rent growth 13.36%
- vacancy 2.00%
- median income $55,804
- population (2018) 6,114
- population growth -2.24%
- vs. nat'l avg 7.45%