Rent, population, and median household income are important factors to consider for a 1031 exchange in Broken Arrow due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Broken Arrow, Oklahoma is a part of the East/Broken Arrow Submarket submarket area, and contains 4 zip codes: 74011, 74014, 74012, and 74013.
Broken Arrow Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Broken Arrow, OK submarket area was $667, which is 13.63% higher than 2014 average rent. This represents a compounded annual growth rate of 2.59%. 2019 vacancy in Broken Arrow, OK was 5.40%.
The total population of the city of Broken Arrow, OK has grown 10.44% since 2010. As of 2018, the population was 109,171. The median household income of the Broken Arrow was $72,686, which is 20.55% higher than the national average.
- submarket area East / Broken Arrow Submarket
- avg rent $667
- rent growth 13.63%
- vacancy 5.40%
- median income $72,686
- population (2018) 109,171
- population growth 10.44%
- vs. nat'l avg 20.55%
- zip codes 74011 74012 74013 74014