1031 Exchange Murfreesboro, Tennessee

 

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

Surrounding submarket Area

Murfreesboro, Tennessee is a part of the Murfreesboro/Smyrna Submarket submarket area, and contains 7 zip codes, including: 37132, 37133, 37130, 37127, 37129, and 37131.

Murfreesboro Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Murfreesboro, TN submarket area was $984, which is 23.31% lower than 2014 average rent. This represents a compounded annual growth rate of 4.28%. 2019 vacancy in Murfreesboro, TN was 6.80%.

The total population of the city of Murfreesboro, TN has grown 29.97% since 2010. As of 2018, the population was 141,344. The median household income of the Murfreesboro was $58,391, which is 3.15% lower than the national average.

  • submarket area Murfreesboro / Smyrna Submarket
  • avg rent $984
  • rent growth 23.31%
  • vacancy 6.80%
  • median income $58,391
  • population (2018) 141,344
  • population growth 29.97%
  • vs. nat'l avg 3.15%
  • zip codes 37127 37128 37129 37130 37131 37132 37133

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