Rent, population, and median household income are important factors to consider for a 1031 exchange in Monterey Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Monterey Park, California is a part of the E LA/Alhambra/Montebello/Pico Rivera Submarket submarket area, and contains 3 zip codes: 91755, 91754, and 91756.
Monterey Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Monterey Park, CA submarket area was $1,579, which is 33.36% lower than 2014 average rent. This represents a compounded annual growth rate of 5.93%. 2019 vacancy in Monterey Park, CA was 2.80%.
The total population of the city of Monterey Park, CA has grown 0.22% since 2010. As of 2018, the population was 60,401. The median household income of the Monterey Park was $57,265, which is 5.02% lower than the national average.
- submarket area E LA / Alhambra / Montebello / Pico Rivera Submarket
- avg rent $1,579
- rent growth 33.36%
- vacancy 2.80%
- median income $57,265
- population (2018) 60,401
- population growth 0.22%
- vs. nat'l avg 5.02%
- zip codes 91754 91755 91756