Rent, population, and median household income are important factors to consider for a 1031 exchange in Paramount due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Paramount, California is a part of the Paramount/Downey/Bellflower/Norwalk Submarket submarket area, and contains zip code 90723.
Paramount Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Paramount, CA submarket area was $1,546, which is 21.64% lower than 2014 average rent. This represents a compounded annual growth rate of 4.00%. 2019 vacancy in Paramount, CA was 1.50%.
The total population of the city of Paramount, CA has grown 0.53% since 2010. As of 2018, the population was 54,387. The median household income of the Paramount was $53,031, which is 12.04% lower than the national average.
- submarket area Paramount / Downey / Bellflower / Norwalk Submarket
- avg rent $1,546
- rent growth 21.64%
- vacancy 1.50%
- median income $53,031
- population (2018) 54,387
- population growth 0.53%
- vs. nat'l avg 12.04%
- zip code 90723