Rent, population, and median household income are important factors to consider for a 1031 exchange in Goodyear due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Goodyear, Arizona is a part of the Goodyear/Avondale Submarket submarket area, and contains zip codes 85338 and 85395.
Goodyear Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Goodyear, AZ submarket area was $1,193, which is 27.87% higher than 2014 average rent. This represents a compounded annual growth rate of 5.04%. 2019 vacancy in Goodyear, AZ was 4.50%.
The total population of the city of Goodyear, AZ has grown 26.90% since 2010. As of 2018, the population was 82,835. The median household income of the Goodyear was $80,336, which is 33.24% higher than the national average.
- submarket area Goodyear / Avondale Submarket
- avg rent $1,193
- rent growth 27.87%
- vacancy 4.50%
- median income $80,336
- population (2018) 82,835
- population growth 26.90%
- vs. nat'l avg 33.24%
- zip codes 85338 85395