Rent, population, and median household income are important factors to consider for a 1031 exchange in Fargo due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Fargo, North Dakota is a part of the Fargo, ND-MN metropolitan area, and contains 13 zip codes, including: 58105, 58106, 58121, 58124, 58107, and 58126.
Fargo Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Fargo, ND metropolitan area was $881, which is 15.47% lower than 2014 average rent. This represents a compounded annual growth rate of 2.92%. 2019 vacancy in Fargo, ND was 4.00%.
The total population of the city of Fargo, ND has grown 18.28% since 2010. As of 2018, the population was 124,844. The median household income of the Fargo was $53,309, which is 11.58% lower than the national average.
- metropolitan area Fargo, ND-MN
- avg rent $881
- rent growth 15.47%
- vacancy 4.00%
- median income $53,309
- population (2018) 124,844
- population growth 18.28%
- vs. nat'l avg 11.58%
- zip codes 58102 58103 58104 58105 58106 58107 58108 58109 58121 58122 58124 58125 58126
