Rent, population, and median household income are important factors to consider for a 1031 exchange in Berkeley due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Berkeley, California is a part of the North Alameda Submarket submarket area, and contains 11 zip codes, including: 94702, 94712, 94720, 94703, 94708, and 94701.
Berkeley Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Berkeley, CA submarket area was $2,905, which is 33.44% higher than 2014 average rent. This represents a compounded annual growth rate of 5.94%. 2019 vacancy in Berkeley, CA was 7.40%.
The total population of the city of Berkeley, CA has grown 8.05% since 2010. As of 2018, the population was 121,643. The median household income of the Berkeley was $80,912, which is 34.20% higher than the national average.
- submarket area North Alameda Submarket
- avg rent $2,905
- rent growth 33.44%
- vacancy 7.40%
- median income $80,912
- population (2018) 121,643
- population growth 8.05%
- vs. nat'l avg 34.20%
- zip codes 94701 94702 94703 94704 94705 94707 94708 94709 94710 94712 94720
