Rent, population, and median household income are important factors to consider for a 1031 exchange in Irvine due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Irvine, California is a part of the Irvine Submarket submarket area, and contains 13 zip codes, including: 92617, 92619, 92606, 92616, 92602, and 92603.
Irvine Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Irvine, CA submarket area was $2,557, which is 18.93% higher than 2014 average rent. This represents a compounded annual growth rate of 3.53%. 2019 vacancy in Irvine, CA was 5.10%.
The total population of the city of Irvine, CA has grown 33.05% since 2010. As of 2018, the population was 282,572. The median household income of the Irvine was $100,969, which is 67.46% higher than the national average.
- submarket area Irvine Submarket
- avg rent $2,557
- rent growth 18.93%
- vacancy 5.10%
- median income $100,969
- population (2018) 282,572
- population growth 33.05%
- vs. nat'l avg 67.46%
- zip codes 92602 92603 92604 92606 92612 92614 92616 92617 92618 92619 92620 92623 92697
