Rent, population, and median household income are important factors to consider for a 1031 exchange in Redwood due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Redwood, California is a part of the South San Mateo Submarket submarket area.
Redwood Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Redwood, CA submarket area was $3,057, which is 30.31% higher than 2014 average rent. This represents a compounded annual growth rate of 5.44%. 2019 vacancy in Redwood, CA was 4.80%.
The total population of the city of Redwood, CA has grown 12.22% since 2010. As of 2018, the population was 86,200. The median household income of the Redwood was $107,469, which is 78.24% higher than the national average.
- submarket area South San Mateo Submarket
- avg rent $3,057
- rent growth 30.31%
- vacancy 4.80%
- median income $107,469
- population (2018) 86,200
- population growth 12.22%
- vs. nat'l avg 78.24%