Rent, population, and median household income are important factors to consider for a 1031 exchange in Lake Forest due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lake Forest, California is a part of the Mission Viejo Submarket submarket area, and contains zip code 92630.
Lake Forest Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lake Forest, CA submarket area was $1,998, which is 14.63% higher than 2014 average rent. This represents a compounded annual growth rate of 2.77%. 2019 vacancy in Lake Forest, CA was 3.80%.
The total population of the city of Lake Forest, CA has grown 10.82% since 2010. As of 2018, the population was 85,623. The median household income of the Lake Forest was $104,449, which is 73.24% higher than the national average.
- submarket area Mission Viejo Submarket
- avg rent $1,998
- rent growth 14.63%
- vacancy 3.80%
- median income $104,449
- population (2018) 85,623
- population growth 10.82%
- vs. nat'l avg 73.24%
- zip code 92630
