Rent, population, and median household income are important factors to consider for a 1031 exchange in Elk Grove due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Elk Grove, California is a part of the South/Elk Grove Submarket submarket area, and contains 4 zip codes: 95759, 95757, 95624, and 95758.
Elk Grove Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Elk Grove, CA submarket area was $1,166, which is 38.64% higher than 2014 average rent. This represents a compounded annual growth rate of 6.75%. 2019 vacancy in Elk Grove, CA was 3.40%.
The total population of the city of Elk Grove, CA has grown 12.99% since 2010. As of 2018, the population was 172,886. The median household income of the Elk Grove was $90,770, which is 50.55% higher than the national average.
- submarket area South / Elk Grove Submarket
- avg rent $1,166
- rent growth 38.64%
- vacancy 3.40%
- median income $90,770
- population (2018) 172,886
- population growth 12.99%
- vs. nat'l avg 50.55%
- zip codes 95624 95757 95758 95759