1031 Exchange Murrieta, California

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Murrieta due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Murrieta, California is a part of the Southwest Riverside County submarket area, and contains 3 zip codes: 92562, 92564, and 92563.

Murrieta Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Murrieta, CA submarket area was $1,551, which is 20.23% higher than 2014 average rent. This represents a compounded annual growth rate of 3.75%. 2019 vacancy in Murrieta, CA was 3.60%.

The total population of the city of Murrieta, CA has grown 11.13% since 2010. As of 2018, the population was 114,985. The median household income of the Murrieta was $84,817, which is 40.67% higher than the national average.

  • submarket area Southwest Riverside County
  • avg rent $1,551
  • rent growth 20.23%
  • vacancy 3.60%
  • median income $84,817
  • population (2018) 114,985
  • population growth 11.13%
  • vs. nat'l avg 40.67%
  • zip codes 92562 92563 92564

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