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1031 Exchange Moreno Valley, California

 

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

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