Rent, population, and median household income are important factors to consider for a 1031 exchange in Broomfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Broomfield, Colorado is a part of the Arvada/Broomfield Submarket submarket area, and contains 4 zip codes: 80038, 80023, 80021, and 80020.
Broomfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Broomfield, CO submarket area was $1,473, which is 36.26% higher than 2014 average rent. This represents a compounded annual growth rate of 6.38%. 2019 vacancy in Broomfield, CO was 5.90%.
The total population of the city of Broomfield, CO has grown 23.94% since 2010. As of 2018, the population was 69,267. The median household income of the Broomfield was $89,624, which is 48.65% higher than the national average.
- submarket area Arvada / Broomfield Submarket
- avg rent $1,473
- rent growth 36.26%
- vacancy 5.90%
- median income $89,624
- population (2018) 69,267
- population growth 23.94%
- vs. nat'l avg 48.65%
- zip codes 80020 80021 80023 80038