Rent, population, and median household income are important factors to consider for a 1031 exchange in Allen due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Allen, Texas is a part of the Plano/Allen/McKinney submarket area, and contains zip codes 75002 and 75013.
Allen Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Allen, TX submarket area was $1,501, which is 30.64% higher than 2014 average rent. This represents a compounded annual growth rate of 5.49%. 2019 vacancy in Allen, TX was 8.90%.
The total population of the city of Allen, TX has grown 22.72% since 2010. As of 2018, the population was 106,736. The median household income of the Allen was $103,383, which is 77.03% higher than the national average.
- submarket area Plano / Allen / McKinney
- avg rent $1,501
- rent growth 30.64%
- vacancy 8.90%
- median income $103,383
- population (2018) 106,736
- population growth 22.72%
- vs. nat'l avg 77.03%
- zip codes 75002 75013