Rent, population, and median household income are important factors to consider for a 1031 exchange in Murray due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Murray, Utah is a part of the Murray Submarket submarket area.
Murray Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Murray, UT submarket area was $1,052, which is 19.68% higher than 2014 average rent. This represents a compounded annual growth rate of 3.66%. 2019 vacancy in Murray, UT was 3.40%.
The total population of the city of Murray, UT has grown 5.48% since 2010. As of 2018, the population was 49,308. The median household income of the Murray was $62,174, which is 3.12% higher than the national average.
- submarket area Murray Submarket
- avg rent $1,052
- rent growth 19.68%
- vacancy 3.40%
- median income $62,174
- population (2018) 49,308
- population growth 5.48%
- vs. nat'l avg 3.12%
