Rent, population, and median household income are important factors to consider for a 1031 exchange in Canyon Lake due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Canyon Lake, California is a part of the Perris Submarket submarket area.
Canyon Lake Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Canyon Lake, CA submarket area was $1,435, which is 49.17% higher than 2014 average rent. This represents a compounded annual growth rate of 8.33%. 2019 vacancy in Canyon Lake, CA was 6.30%.
The total population of the city of Canyon Lake, CA has grown 6.68% since 2010. As of 2018, the population was 11,267. The median household income of the Canyon Lake was $97,237, which is 61.27% higher than the national average.
- submarket area Perris Submarket
- avg rent $1,435
- rent growth 49.17%
- vacancy 6.30%
- median income $97,237
- population (2018) 11,267
- population growth 6.68%
- vs. nat'l avg 61.27%
