Rent, population, and median household income are important factors to consider for a 1031 exchange in Flagstaff due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Flagstaff, Arizona is a part of the Flagstaff, AZ metropolitan area, and contains 6 zip codes: 86003, 86002, 86001, 86005, 86004, and 86011.
Flagstaff Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Flagstaff, AZ metropolitan area was $1,329, which is 25.85% lower than 2014 average rent. This represents a compounded annual growth rate of 4.71%. 2019 vacancy in Flagstaff, AZ was 4.20%.
The total population of the city of Flagstaff, AZ has grown 12.29% since 2010. As of 2018, the population was 73,964. The median household income of the Flagstaff was $56,015, which is -7.10% lower than the national average.
- metropolitan area Flagstaff, AZ
- avg rent $1,329
- rent growth 25.85%
- vacancy 4.20%
- median income $56,015
- population (2018) 73,964
- population growth 12.29%
- vs. nat'l avg -7.10%
- zip codes 86001 86002 86003 86004 86005 86011
