1031 Exchange North Royalton, Ohio

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in North Royalton due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

North Royalton, Ohio is a part of the North Royalton/Brecksville Submarket submarket area, and contains zip code 44133.

North Royalton Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the North Royalton, OH submarket area was $848, which is 10.85% higher than 2014 average rent. This represents a compounded annual growth rate of 2.08%. 2019 vacancy in North Royalton, OH was 2.40%.

The total population of the city of North Royalton, OH has decreased 0.67% since 2010. As of 2018, the population was 30,239. The median household income of the North Royalton was $70,429, which is 16.81% higher than the national average.

  • submarket area North Royalton / Brecksville Submarket
  • avg rent $848
  • rent growth 10.85%
  • vacancy 2.40%
  • median income $70,429
  • population (2018) 30,239
  • population growth -0.67%
  • vs. nat'l avg 16.81%
  • zip code 44133

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