Rent, population, and median household income are important factors to consider for a 1031 exchange in Newport Beach due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Newport Beach, California is a part of the Newport Beach submarket area, and contains 6 zip codes: 92662, 92661, 92660, 92658, 92659, and 92663.
Newport Beach Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Newport Beach, CA submarket area was $1,940, which is 8.81% higher than 2014 average rent. This represents a compounded annual growth rate of 1.70%. 2019 vacancy in Newport Beach, CA was 1.90%.
The total population of the city of Newport Beach, CA has grown 0.16% since 2010. As of 2018, the population was 85,326. The median household income of the Newport Beach was $122,709, which is 103.52% higher than the national average.
- submarket area Newport Beach
- avg rent $1,940
- rent growth 8.81%
- vacancy 1.90%
- median income $122,709
- population (2018) 85,326
- population growth 0.16%
- vs. nat'l avg 103.52%
- zip codes 92658 92659 92660 92661 92662 92663