Rent, population, and median household income are important factors to consider for a 1031 exchange in Downey due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Downey, California is a part of the Paramount/Downey/Bellflower/Norwalk Submarket submarket area, and contains 4 zip codes: 90240, 90239, 90241, and 90242.
Downey Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Downey, CA submarket area was $1,546, which is 21.64% higher than 2014 average rent. This represents a compounded annual growth rate of 4.00%. 2019 vacancy in Downey, CA was 1.50%.
The total population of the city of Downey, CA has grown 0.44% since 2010. As of 2018, the population was 112,269. The median household income of the Downey was $71,948, which is 19.33% higher than the national average.
- submarket area Paramount / Downey / Bellflower / Norwalk Submarket
- avg rent $1,546
- rent growth 21.64%
- vacancy 1.50%
- median income $71,948
- population (2018) 112,269
- population growth 0.44%
- vs. nat'l avg 19.33%
- zip codes 90239 90240 90241 90242