Rent, population, and median household income are important factors to consider for a 1031 exchange in Cathedral City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Cathedral City, California is a part of the Palm Springs/Palm Desert Submarket submarket area, and contains zip codes 92234 and 92235.
Cathedral City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Cathedral City, CA submarket area was $1,165, which is 19.86% lower than 2014 average rent. This represents a compounded annual growth rate of 3.69%. 2019 vacancy in Cathedral City, CA was 2.50%.
The total population of the city of Cathedral City, CA has grown 7.23% since 2010. As of 2018, the population was 54,902. The median household income of the Cathedral City was $46,370, which is 23.09% lower than the national average.
- submarket area Palm Springs / Palm Desert Submarket
- avg rent $1,165
- rent growth 19.86%
- vacancy 2.50%
- median income $46,370
- population (2018) 54,902
- population growth 7.23%
- vs. nat'l avg 23.09%
- zip codes 92234 92235