Rent, population, and median household income are important factors to consider for a 1031 exchange in Martinez due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Martinez, California is a part of the Concord/Martinez Submarket submarket area, and contains zip code 94553.
Martinez Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Martinez, CA submarket area was $1,883, which is 23.31% higher than 2014 average rent. This represents a compounded annual growth rate of 4.28%. 2019 vacancy in Martinez, CA was 1.80%.
The total population of the city of Martinez, CA has grown 7.20% since 2010. As of 2018, the population was 38,402. The median household income of the Martinez was $102,866, which is 70.61% higher than the national average.
- submarket area Concord / Martinez Submarket
- avg rent $1,883
- rent growth 23.31%
- vacancy 1.80%
- median income $102,866
- population (2018) 38,402
- population growth 7.20%
- vs. nat'l avg 70.61%
- zip code 94553