1031 Exchange Norwalk, California

 

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

Surrounding submarket Area

Norwalk, California is a part of the Paramount/Downey/Bellflower/Norwalk Submarket submarket area, and contains 3 zip codes: 90652, 90651, and 90650.

Norwalk Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Norwalk, CA submarket area was $1,546, which is 21.64% higher than 2014 average rent. This represents a compounded annual growth rate of 4.00%. 2019 vacancy in Norwalk, CA was 1.50%.

The total population of the city of Norwalk, CA has decreased 0.41% since 2010. As of 2018, the population was 105,120. The median household income of the Norwalk was $66,453, which is 10.22% higher than the national average.

  • submarket area Paramount / Downey / Bellflower / Norwalk Submarket
  • avg rent $1,546
  • rent growth 21.64%
  • vacancy 1.50%
  • median income $66,453
  • population (2018) 105,120
  • population growth -0.41%
  • vs. nat'l avg 10.22%
  • zip codes 90650 90651 90652

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