Rent, population, and median household income are important factors to consider for a 1031 exchange in Mesa due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Mesa, Arizona is a part of the West Mesa Submarket submarket area, and contains 19 zip codes, including: 85275, 85203, 85204, 85202, 85213, and 85207.
Mesa Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Mesa, AZ submarket area was $865, which is 28.15% lower than 2014 average rent. This represents a compounded annual growth rate of 5.09%. 2019 vacancy in Mesa, AZ was 3.00%.
The total population of the city of Mesa, AZ has grown 15.92% since 2010. As of 2018, the population was 508,958. The median household income of the Mesa was $54,700, which is -9.28% lower than the national average.
- submarket area West Mesa Submarket
- avg rent $865
- rent growth 28.15%
- vacancy 3.00%
- median income $54,700
- population (2018) 508,958
- population growth 15.92%
- vs. nat'l avg -9.28%
- zip codes 85201 85202 85203 85204 85205 85206 85207 85208 85209 85210 85211 85212 85213 85214 85215 85216 85274 85275 85277
