Rent, population, and median household income are important factors to consider for a 1031 exchange in Wheat Ridge due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Wheat Ridge, Colorado is a part of the Golden/Wheat Ridge Submarket submarket area, and contains zip codes 80033 and 80034.
Wheat Ridge Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wheat Ridge, CO submarket area was $1,397, which is 39.84% lower than 2014 average rent. This represents a compounded annual growth rate of 6.94%. 2019 vacancy in Wheat Ridge, CO was 2.50%.
The total population of the city of Wheat Ridge, CO has grown 4.09% since 2010. As of 2018, the population was 31,400. The median household income of the Wheat Ridge was $55,893, which is 7.30% lower than the national average.
- submarket area Golden / Wheat Ridge Submarket
- avg rent $1,397
- rent growth 39.84%
- vacancy 2.50%
- median income $55,893
- population (2018) 31,400
- population growth 4.09%
- vs. nat'l avg 7.30%
- zip codes 80033 80034