Rent, population, and median household income are important factors to consider for a 1031 exchange in Culver City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Culver City, California is a part of the Mar Vista/Palms/Culver City Submarket submarket area, and contains 4 zip codes: 90231, 90232, 90233, and 90230.
Culver City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Culver City, CA submarket area was $2,345, which is 35.24% higher than 2014 average rent. This represents a compounded annual growth rate of 6.22%. 2019 vacancy in Culver City, CA was 2.90%.
The total population of the city of Culver City, CA has grown 0.85% since 2010. As of 2018, the population was 39,214. The median household income of the Culver City was $90,183, which is 49.57% higher than the national average.
- submarket area Mar Vista / Palms / Culver City Submarket
- avg rent $2,345
- rent growth 35.24%
- vacancy 2.90%
- median income $90,183
- population (2018) 39,214
- population growth 0.85%
- vs. nat'l avg 49.57%
- zip codes 90230 90231 90232 90233