Rent, population, and median household income are important factors to consider for a 1031 exchange in Paradise Valley due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Paradise Valley, Arizona is a part of the Paradise Valley Submarket submarket area, and contains zip code 85253.
Paradise Valley Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Paradise Valley, AZ submarket area was $1,017, which is 28.41% higher than 2014 average rent. This represents a compounded annual growth rate of 5.13%. 2019 vacancy in Paradise Valley, AZ was 3.50%.
The total population of the city of Paradise Valley, AZ has grown 13.12% since 2010. As of 2018, the population was 14,502. The median household income of the Paradise Valley was $204,145, which is 238.59% higher than the national average.
- submarket area Paradise Valley Submarket
- avg rent $1,017
- rent growth 28.41%
- vacancy 3.50%
- median income $204,145
- population (2018) 14,502
- population growth 13.12%
- vs. nat'l avg 238.59%
- zip code 85253