1031 Exchange Novato, California

 

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

Surrounding submarket Area

Novato, California is a part of the North Marin Submarket submarket area, and contains 5 zip codes: 94947, 94998, 94945, 94949, and 94948.

Novato Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Novato, CA submarket area was $2,401, which is 18.39% higher than 2014 average rent. This represents a compounded annual growth rate of 3.43%. 2019 vacancy in Novato, CA was 2.50%.

The total population of the city of Novato, CA has grown 7.23% since 2010. As of 2018, the population was 55,655. The median household income of the Novato was $96,743, which is 60.45% higher than the national average.

  • submarket area North Marin Submarket
  • avg rent $2,401
  • rent growth 18.39%
  • vacancy 2.50%
  • median income $96,743
  • population (2018) 55,655
  • population growth 7.23%
  • vs. nat'l avg 60.45%
  • zip codes 94945 94947 94948 94949 94998

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