Rent, population, and median household income are important factors to consider for a 1031 exchange in Lake Elsinore due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lake Elsinore, California is a part of the Perris Submarket submarket area, and contains 3 zip codes: 92532, 92530, and 92531.
Lake Elsinore Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lake Elsinore, CA submarket area was $1,435, which is 49.17% higher than 2014 average rent. This represents a compounded annual growth rate of 8.33%. 2019 vacancy in Lake Elsinore, CA was 6.30%.
The total population of the city of Lake Elsinore, CA has grown 27.71% since 2010. As of 2018, the population was 66,183. The median household income of the Lake Elsinore was $67,668, which is 12.23% higher than the national average.
- submarket area Perris Submarket
- avg rent $1,435
- rent growth 49.17%
- vacancy 6.30%
- median income $67,668
- population (2018) 66,183
- population growth 27.71%
- vs. nat'l avg 12.23%
- zip codes 92530 92531 92532