Rent, population, and median household income are important factors to consider for a 1031 exchange in Grove City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Grove City, Ohio is a part of the Grove City Submarket submarket area, and contains zip code 43123.
Grove City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Grove City, OH submarket area was $834, which is 16.16% higher than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Grove City, OH was 5.20%.
The total population of the city of Grove City, OH has grown 17.01% since 2010. As of 2018, the population was 41,625. The median household income of the Grove City was $69,479, which is 15.24% higher than the national average.
- submarket area Grove City Submarket
- avg rent $834
- rent growth 16.16%
- vacancy 5.20%
- median income $69,479
- population (2018) 41,625
- population growth 17.01%
- vs. nat'l avg 15.24%
- zip code 43123
