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: 90651, 90652, 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
