Rent, population, and median household income are important factors to consider for a 1031 exchange in Avondale due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Avondale, Arizona is a part of the Goodyear/Avondale Submarket submarket area, and contains zip codes 85323 and 85392.
Avondale Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Avondale, AZ submarket area was $1,193, which is 27.87% lower than 2014 average rent. This represents a compounded annual growth rate of 5.04%. 2019 vacancy in Avondale, AZ was 4.50%.
The total population of the city of Avondale, AZ has grown 12.58% since 2010. As of 2018, the population was 85,832. The median household income of the Avondale was $58,938, which is -2.25% lower than the national average.
- submarket area Goodyear / Avondale Submarket
- avg rent $1,193
- rent growth 27.87%
- vacancy 4.50%
- median income $58,938
- population (2018) 85,832
- population growth 12.58%
- vs. nat'l avg -2.25%
- zip codes 85323 85392