Rent, population, and median household income are important factors to consider for a 1031 exchange in South Pasadena due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
South Pasadena, California is a part of the Pasadena Submarket submarket area, and contains zip codes 91030 and 91031.
South Pasadena Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the South Pasadena, CA submarket area was $2,106, which is 24.54% higher than 2014 average rent. This represents a compounded annual growth rate of 4.49%. 2019 vacancy in South Pasadena, CA was 5.40%.
The total population of the city of South Pasadena, CA has decreased 0.03% since 2010. As of 2018, the population was 25,611. The median household income of the South Pasadena was $96,579, which is 60.18% higher than the national average.
- submarket area Pasadena Submarket
- avg rent $2,106
- rent growth 24.54%
- vacancy 5.40%
- median income $96,579
- population (2018) 25,611
- population growth -0.03%
- vs. nat'l avg 60.18%
- zip codes 91030 91031