Rent, population, and median household income are important factors to consider for a 1031 exchange in Hemet due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hemet, California is a part of the Hemet Submarket Submarket submarket area, and contains 4 zip codes: 92545, 92546, 92543, and 92544.
Hemet Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hemet, CA submarket area was $1,194, which is 46.68% lower than 2014 average rent. This represents a compounded annual growth rate of 7.96%. 2019 vacancy in Hemet, CA was 2.90%.
The total population of the city of Hemet, CA has grown 8.41% since 2010. As of 2018, the population was 85,275. The median household income of the Hemet was $39,179, which is 35.02% lower than the national average.
- submarket area Hemet Submarket Submarket
- avg rent $1,194
- rent growth 46.68%
- vacancy 2.90%
- median income $39,179
- population (2018) 85,275
- population growth 8.41%
- vs. nat'l avg 35.02%
- zip codes 92543 92544 92545 92546