Rent, population, and median household income are important factors to consider for a 1031 exchange in Lakewood due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lakewood, Colorado is a part of the Lakewood-South Submarket submarket area.
Lakewood Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lakewood, CO submarket area was $1,413, which is 22.55% higher than 2014 average rent. This represents a compounded annual growth rate of 4.15%. 2019 vacancy in Lakewood, CO was 3.20%.
The total population of the city of Lakewood, CO has grown 9.66% since 2010. As of 2018, the population was 156,798. The median household income of the Lakewood was $64,100, which is 6.31% higher than the national average.
- submarket area Lakewood-South Submarket
- avg rent $1,413
- rent growth 22.55%
- vacancy 3.20%
- median income $64,100
- population (2018) 156,798
- population growth 9.66%
- vs. nat'l avg 6.31%
