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: 92563, 92564, and 92562.
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