Rent, population, and median household income are important factors to consider for a 1031 exchange in Hendersonville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hendersonville, Tennessee is a part of the North East/Madison/Rivergate/Hendersonville Submarket submarket area, and contains zip codes 37075 and 37077.
Hendersonville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hendersonville, TN submarket area was $1,015, which is 27.99% higher than 2014 average rent. This represents a compounded annual growth rate of 5.06%. 2019 vacancy in Hendersonville, TN was 5.40%.
The total population of the city of Hendersonville, TN has grown 12.08% since 2010. As of 2018, the population was 57,576. The median household income of the Hendersonville was $69,424, which is 15.14% higher than the national average.
- submarket area North East / Madison / Rivergate / Hendersonville Submarket
- avg rent $1,015
- rent growth 27.99%
- vacancy 5.40%
- median income $69,424
- population (2018) 57,576
- population growth 12.08%
- vs. nat'l avg 15.14%
- zip codes 37075 37077
