Rent, population, and median household income are important factors to consider for a 1031 exchange in Menifee due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Menifee, California is a part of the Perris Submarket submarket area, and contains 4 zip codes: 92586, 92587, 92585, and 92584.
Menifee Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Menifee, 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 Menifee, CA was 6.30%.
The total population of the city of Menifee, CA has grown 19.45% since 2010. As of 2018, the population was 92,595. The median household income of the Menifee was $65,757, which is 9.06% higher than the national average.
- submarket area Perris Submarket
- avg rent $1,435
- rent growth 49.17%
- vacancy 6.30%
- median income $65,757
- population (2018) 92,595
- population growth 19.45%
- vs. nat'l avg 9.06%
- zip codes 92584 92585 92586 92587