Rent, population, and median household income are important factors to consider for a 1031 exchange in Midwest due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Midwest, Oklahoma is a part of the Midwest/Del City Submarket submarket area.
Midwest Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Midwest, OK submarket area was $627, which is 15.90% lower than 2014 average rent. This represents a compounded annual growth rate of 2.99%. 2019 vacancy in Midwest, OK was 5.80%.
The total population of the city of Midwest, OK has grown 5.43% since 2010. As of 2018, the population was 57,325. The median household income of the Midwest was $47,963, which is 20.45% lower than the national average.
- submarket area Midwest / Del City Submarket
- avg rent $627
- rent growth 15.90%
- vacancy 5.80%
- median income $47,963
- population (2018) 57,325
- population growth 5.43%
- vs. nat'l avg 20.45%