Rent, population, and median household income are important factors to consider for a 1031 exchange in Belle Isle due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Belle Isle, Florida is a part of the South Central/527/441 Submarket submarket area.
Belle Isle Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Belle Isle, FL submarket area was $1,388, which is 40.91% higher than 2014 average rent. This represents a compounded annual growth rate of 7.10%. 2019 vacancy in Belle Isle, FL was 5.90%.
The total population of the city of Belle Isle, FL has grown 19.67% since 2010. As of 2018, the population was 7,166. The median household income of the Belle Isle was $85,873, which is 42.43% higher than the national average.
- submarket area South Central / 527 / 441 Submarket
- avg rent $1,388
- rent growth 40.91%
- vacancy 5.90%
- median income $85,873
- population (2018) 7,166
- population growth 19.67%
- vs. nat'l avg 42.43%
