Rent, population, and median household income are important factors to consider for a 1031 exchange in Westminster due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Westminster, California is a part of the Westminster/Fountain Valley Submarket submarket area, and contains 3 zip codes: 92683, 92685, and 92684.
Westminster Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Westminster, CA submarket area was $1,631, which is 12.79% higher than 2014 average rent. This represents a compounded annual growth rate of 2.44%. 2019 vacancy in Westminster, CA was 2.30%.
The total population of the city of Westminster, CA has grown 1.38% since 2010. As of 2018, the population was 90,938. The median household income of the Westminster was $61,834, which is 2.56% higher than the national average.
- submarket area Westminster / Fountain Valley Submarket
- avg rent $1,631
- rent growth 12.79%
- vacancy 2.30%
- median income $61,834
- population (2018) 90,938
- population growth 1.38%
- vs. nat'l avg 2.56%
- zip codes 92683 92684 92685
