Rent, population, and median household income are important factors to consider for a 1031 exchange in Springfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Springfield, Missouri is a part of the Springfield, MO metropolitan area, and contains 16 zip codes, including: 65810, 65806, 65805, 65890, 65809, and 65814.
Springfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Springfield, MO metropolitan area was $660, which is 15.99% lower than 2014 average rent. This represents a compounded annual growth rate of 3.01%. 2019 vacancy in Springfield, MO was 2.90%.
The total population of the city of Springfield, MO has grown 5.41% since 2010. As of 2018, the population was 168,122. The median household income of the Springfield was $35,674, which is 40.83% lower than the national average.
- metropolitan area Springfield, MO
- avg rent $660
- rent growth 15.99%
- vacancy 2.90%
- median income $35,674
- population (2018) 168,122
- population growth 5.41%
- vs. nat'l avg 40.83%
- zip codes 65801 65802 65803 65804 65805 65806 65807 65808 65809 65810 65814 65817 65890 65897 65898 65899
