1031 Exchange Lake Elsinore, California

 

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

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