Rent, population, and median household income are important factors to consider for a 1031 exchange in North Olmsted due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
North Olmsted, Ohio is a part of the North Olmsted/Fairview Park Submarket submarket area, and contains zip code 44070.
North Olmsted Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the North Olmsted, OH submarket area was $814, which is 10.00% higher than 2014 average rent. This represents a compounded annual growth rate of 1.92%. 2019 vacancy in North Olmsted, OH was 1.70%.
The total population of the city of North Olmsted, OH has decreased 3.44% since 2010. As of 2018, the population was 31,591. The median household income of the North Olmsted was $63,701, which is 5.65% higher than the national average.
- submarket area North Olmsted / Fairview Park Submarket
- avg rent $814
- rent growth 10.00%
- vacancy 1.70%
- median income $63,701
- population (2018) 31,591
- population growth -3.44%
- vs. nat'l avg 5.65%
- zip code 44070