Rent, population, and median household income are important factors to consider for a 1031 exchange in Palmdale due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Palmdale, California is a part of the Palmdale/Lancaster Submarket submarket area, and contains 6 zip codes: 93550, 93599, 93552, 93551, 93590, and 93591.
Palmdale Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Palmdale, CA submarket area was $1,346, which is 57.24% higher than 2014 average rent. This represents a compounded annual growth rate of 9.47%. 2019 vacancy in Palmdale, CA was 3.40%.
The total population of the city of Palmdale, CA has grown 2.56% since 2010. As of 2018, the population was 156,667. The median household income of the Palmdale was $60,428, which is 0.22% higher than the national average.
- submarket area Palmdale / Lancaster Submarket
- avg rent $1,346
- rent growth 57.24%
- vacancy 3.40%
- median income $60,428
- population (2018) 156,667
- population growth 2.56%
- vs. nat'l avg 0.22%
- zip codes 93550 93551 93552 93590 93591 93599