Rent, population, and median household income are important factors to consider for a 1031 exchange in Cerritos due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Cerritos, California is a part of the N Long Beach/Lakewood/Artesia Submarket submarket area, and contains zip code 90703.
Cerritos Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Cerritos, CA submarket area was $1,575, which is 30.27% higher than 2014 average rent. This represents a compounded annual growth rate of 5.43%. 2019 vacancy in Cerritos, CA was 3.10%.
The total population of the city of Cerritos, CA has grown 2.90% since 2010. As of 2018, the population was 50,462. The median household income of the Cerritos was $99,528, which is 65.07% higher than the national average.
- submarket area N Long Beach / Lakewood / Artesia Submarket
- avg rent $1,575
- rent growth 30.27%
- vacancy 3.10%
- median income $99,528
- population (2018) 50,462
- population growth 2.90%
- vs. nat'l avg 65.07%
- zip code 90703