1031 Exchange Lancaster, California

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Lancaster due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Lancaster, California is a part of the Palmdale/Lancaster Submarket submarket area, and contains 6 zip codes: 93534, 93586, 93584, 93535, 93539, and 93536.

Lancaster Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lancaster, CA submarket area was $1,346, which is 57.24% lower than 2014 average rent. This represents a compounded annual growth rate of 9.47%. 2019 vacancy in Lancaster, CA was 3.40%.

The total population of the city of Lancaster, CA has grown 1.55% since 2010. As of 2018, the population was 159,053. The median household income of the Lancaster was $52,504, which is 12.92% lower than the national average.

  • submarket area Palmdale / Lancaster Submarket
  • avg rent $1,346
  • rent growth 57.24%
  • vacancy 3.40%
  • median income $52,504
  • population (2018) 159,053
  • population growth 1.55%
  • vs. nat'l avg 12.92%
  • zip codes 93534 93535 93536 93539 93584 93586

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