Rent, population, and median household income are important factors to consider for a 1031 exchange in Palos Verdes Estates due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Palos Verdes Estates, California is a part of the West Torrance/Ranchos Palos Verdes Submarket submarket area.
Palos Verdes Estates Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Palos Verdes Estates, CA submarket area was $1,917, which is 18.26% higher than 2014 average rent. This represents a compounded annual growth rate of 3.41%. 2019 vacancy in Palos Verdes Estates, CA was 2.10%.
The total population of the city of Palos Verdes Estates, CA has decreased 0.25% since 2010. As of 2018, the population was 13,404. The median household income of the Palos Verdes Estates was $175,000, which is 190.25% higher than the national average.
- submarket area West Torrance / Ranchos Palos Verdes Submarket
- avg rent $1,917
- rent growth 18.26%
- vacancy 2.10%
- median income $175,000
- population (2018) 13,404
- population growth -0.25%
- vs. nat'l avg 190.25%
