Rent, population, and median household income are important factors to consider for a 1031 exchange in Moreno Valley due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Moreno Valley, California is a part of the University City/Moreno Valley Submarket submarket area, and contains 7 zip codes, including: 92556, 92553, 92554, 92555, 92557, and 92551.
Moreno Valley Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Moreno Valley, CA submarket area was $1,486, which is 34.72% higher than 2014 average rent. This represents a compounded annual growth rate of 6.14%. 2019 vacancy in Moreno Valley, CA was 4.70%.
The total population of the city of Moreno Valley, CA has grown 8.11% since 2010. As of 2018, the population was 209,050. The median household income of the Moreno Valley was $63,572, which is 5.44% higher than the national average.
- submarket area University City / Moreno Valley Submarket
- avg rent $1,486
- rent growth 34.72%
- vacancy 4.70%
- median income $63,572
- population (2018) 209,050
- population growth 8.11%
- vs. nat'l avg 5.44%
- zip codes 92551 92552 92553 92554 92555 92556 92557