Rent, population, and median household income are important factors to consider for a 1031 exchange in Rancho Mirage due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Rancho Mirage, California is a part of the Palm Springs/Palm Desert Submarket submarket area, and contains zip code 92270.
Rancho Mirage Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rancho Mirage, CA submarket area was $1,165, which is 19.86% higher than 2014 average rent. This represents a compounded annual growth rate of 3.69%. 2019 vacancy in Rancho Mirage, CA was 2.50%.
The total population of the city of Rancho Mirage, CA has grown 6.49% since 2010. As of 2018, the population was 18,336. The median household income of the Rancho Mirage was $71,227, which is 18.13% higher than the national average.
- submarket area Palm Springs / Palm Desert Submarket
- avg rent $1,165
- rent growth 19.86%
- vacancy 2.50%
- median income $71,227
- population (2018) 18,336
- population growth 6.49%
- vs. nat'l avg 18.13%
- zip code 92270