Rent, population, and median household income are important factors to consider for a 1031 exchange in Norco due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Norco, California is a part of the Riverside County/Corona Submarket submarket area, and contains zip code 92860.
Norco Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Norco, CA submarket area was $1,632, which is 31.83% higher than 2014 average rent. This represents a compounded annual growth rate of 5.68%. 2019 vacancy in Norco, CA was 3.50%.
The total population of the city of Norco, CA has decreased 1.67% since 2010. As of 2018, the population was 26,610. The median household income of the Norco was $95,441, which is 58.30% higher than the national average.
- submarket area Riverside County / Corona Submarket
- avg rent $1,632
- rent growth 31.83%
- vacancy 3.50%
- median income $95,441
- population (2018) 26,610
- population growth -1.67%
- vs. nat'l avg 58.30%
- zip code 92860
