Rent, population, and median household income are important factors to consider for a 1031 exchange in Torrance due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Torrance, California is a part of the West Torrance/Ranchos Palos Verdes Submarket submarket area, and contains 10 zip codes, including: 90502, 90504, 90507, 90506, 90505, and 90503.
Torrance Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Torrance, CA submarket area was $1,917, which is 18.26% higher than 2014 average rent. This represents a compounded annual growth rate of 3.41%. 2019 vacancy in Torrance, CA was 2.10%.
The total population of the city of Torrance, CA has decreased 0.18% since 2010. As of 2018, the population was 145,182. The median household income of the Torrance was $90,309, which is 49.78% higher than the national average.
- submarket area West Torrance / Ranchos Palos Verdes Submarket
- avg rent $1,917
- rent growth 18.26%
- vacancy 2.10%
- median income $90,309
- population (2018) 145,182
- population growth -0.18%
- vs. nat'l avg 49.78%
- zip codes 90501 90502 90503 90504 90505 90506 90507 90508 90509 90510
