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
