Rent, population, and median household income are important factors to consider for a 1031 exchange in Cherry Hills Village due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Cherry Hills Village, Colorado is a part of the Arapahoe County Submarket submarket area.
Cherry Hills Village Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Cherry Hills Village, CO submarket area was $1,689, which is 23.37% higher than 2014 average rent. This represents a compounded annual growth rate of 4.29%. 2019 vacancy in Cherry Hills Village, CO was 4.40%.
The total population of the city of Cherry Hills Village, CO has grown 11.07% since 2010. As of 2018, the population was 6,650. The median household income of the Cherry Hills Village was $250,000, which is 314.64% higher than the national average.
- submarket area Arapahoe County Submarket
- avg rent $1,689
- rent growth 23.37%
- vacancy 4.40%
- median income $250,000
- population (2018) 6,650
- population growth 11.07%
- vs. nat'l avg 314.64%