1031 Exchange Santa Monica, California

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Santa Monica due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Santa Monica, California is a part of the Santa Monica submarket area, and contains 11 zip codes, including: 90407, 90410, 90406, 90402, 90404, and 90411.

Santa Monica Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Santa Monica, CA submarket area was $3,253, which is 29.45% higher than 2014 average rent. This represents a compounded annual growth rate of 5.30%. 2019 vacancy in Santa Monica, CA was 3.70%.

The total population of the city of Santa Monica, CA has grown 1.87% since 2010. As of 2018, the population was 91,411. The median household income of the Santa Monica was $93,865, which is 55.68% higher than the national average.

  • submarket area Santa Monica
  • avg rent $3,253
  • rent growth 29.45%
  • vacancy 3.70%
  • median income $93,865
  • population (2018) 91,411
  • population growth 1.87%
  • vs. nat'l avg 55.68%
  • zip codes 90401 90402 90403 90404 90405 90406 90407 90408 90409 90410 90411

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