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