Rent, population, and median household income are important factors to consider for a 1031 exchange in Delray Beach due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Delray Beach, Florida is a part of the Boynton Beach/Delray Beach Submarket submarket area, and contains 7 zip codes, including: 33484, 33482, 33448, 33446, 33444, and 33445.
Delray Beach Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Delray Beach, FL submarket area was $1,721, which is 23.28% lower than 2014 average rent. This represents a compounded annual growth rate of 4.27%. 2019 vacancy in Delray Beach, FL was 5.00%.
The total population of the city of Delray Beach, FL has grown 14.60% since 2010. As of 2018, the population was 69,358. The median household income of the Delray Beach was $56,532, which is 6.24% lower than the national average.
- submarket area Boynton Beach / Delray Beach Submarket
- avg rent $1,721
- rent growth 23.28%
- vacancy 5.00%
- median income $56,532
- population (2018) 69,358
- population growth 14.60%
- vs. nat'l avg 6.24%
- zip codes 33444 33445 33446 33448 33482 33483 33484