Rent, population, and median household income are important factors to consider for a 1031 exchange in Garden Grove due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Garden Grove, California is a part of the South Anaheim Submarket submarket area, and contains 7 zip codes, including: 92840, 92846, 92844, 92845, 92843, and 92841.
Garden Grove Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Garden Grove, CA submarket area was $1,917, which is 25.79% higher than 2014 average rent. This represents a compounded annual growth rate of 4.70%. 2019 vacancy in Garden Grove, CA was 5.50%.
The total population of the city of Garden Grove, CA has grown 4.54% since 2010. As of 2018, the population was 178,646. The median household income of the Garden Grove was $65,591, which is 8.79% higher than the national average.
- submarket area South Anaheim Submarket
- avg rent $1,917
- rent growth 25.79%
- vacancy 5.50%
- median income $65,591
- population (2018) 178,646
- population growth 4.54%
- vs. nat'l avg 8.79%
- zip codes 92840 92841 92842 92843 92844 92845 92846