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1031 Exchange West Hollywood, California

 

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

Surrounding submarket Area

West Hollywood, California is a part of the Beverly Hills/W Hollywood/Park La Brea Submarket submarket area, and contains zip code 90069.

West Hollywood Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the West Hollywood, CA submarket area was $2,813, which is 34.72% higher than 2014 average rent. This represents a compounded annual growth rate of 6.14%. 2019 vacancy in West Hollywood, CA was 2.80%.

The total population of the city of West Hollywood, CA has grown 7.14% since 2010. As of 2018, the population was 36,854. The median household income of the West Hollywood was $69,249, which is 14.85% higher than the national average.

  • submarket area Beverly Hills / W Hollywood / Park La Brea Submarket
  • avg rent $2,813
  • rent growth 34.72%
  • vacancy 2.80%
  • median income $69,249
  • population (2018) 36,854
  • population growth 7.14%
  • vs. nat'l avg 14.85%
  • zip code 90069

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