1031 Exchange Fargo, North Dakota

 

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: 58109, 58107, 58103, 58121, 58106, and 58102.

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

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