Rent, population, and median household income are important factors to consider for a 1031 exchange in Surpise due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Surpise, Arizona is a part of the Peoria/Sun City/Surprise Submarket submarket area, and contains 5 zip codes: 85388, 85387, 85378, 85374, and 85379.
Surpise Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Surpise, AZ submarket area was $1,085, which is 25.72% higher than 2014 average rent. This represents a compounded annual growth rate of 4.68%. 2019 vacancy in Surpise, AZ was 4.60%.
The total population of the city of Surpise, AZ has grown 17.57% since 2010. As of 2018, the population was 138,161. The median household income of the Surpise was $65,160, which is 8.07% higher than the national average.
- submarket area Peoria / Sun City / Surprise Submarket
- avg rent $1,085
- rent growth 25.72%
- vacancy 4.60%
- median income $65,160
- population (2018) 138,161
- population growth 17.57%
- vs. nat'l avg 8.07%
- zip codes 85374 85378 85379 85387 85388