1031 Exchange Palm Desert, California

 

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

Surrounding submarket Area

Palm Desert, California is a part of the Palm Springs/Palm Desert submarket area, and contains 4 zip codes: 92211, 92260, 92261, and 92255.

Palm Desert Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Palm Desert, CA submarket area was $1,165, which is 19.86% lower than 2014 average rent. This represents a compounded annual growth rate of 3.69%. 2019 vacancy in Palm Desert, CA was 2.50%.

The total population of the city of Palm Desert, CA has grown 9.78% since 2010. As of 2018, the population was 53,185. The median household income of the Palm Desert was $57,578, which is 4.50% lower than the national average.

  • submarket area Palm Springs / Palm Desert
  • avg rent $1,165
  • rent growth 19.86%
  • vacancy 2.50%
  • median income $57,578
  • population (2018) 53,185
  • population growth 9.78%
  • vs. nat'l avg 4.50%
  • zip codes 92211 92255 92260 92261

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