Rent, population, and median household income are important factors to consider for a 1031 exchange in McKinney due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
McKinney, Texas is a part of the Plano/Allen/McKinney submarket area, and contains 4 zip codes: 75071, 75069, 75072, and 75070.
McKinney Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the McKinney, 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 McKinney, TX was 8.90%.
The total population of the city of McKinney, TX has grown 46.16% since 2010. As of 2018, the population was 89,964. The median household income of the McKinney was $191,645, which is 49.21% higher than the national average.
- submarket area Plano / Allen / McKinney
- avg rent $1,501
- rent growth 30.64%
- vacancy 8.90%
- median income $191,645
- population (2018) 89,964
- population growth 46.16%
- vs. nat'l avg 49.21%
- zip codes 75069 75070 75071 75072