Rent, population, and median household income are important factors to consider for a 1031 exchange in Hollywood due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hollywood, Florida is a part of the East Hollywood/Hallandale Submarket submarket area, and contains 13 zip codes, including: 33025, 33026, 33021, 33024, 33019, and 33022.
Hollywood Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hollywood, FL submarket area was $1,936, which is 55.63% lower than 2014 average rent. This represents a compounded annual growth rate of 9.25%. 2019 vacancy in Hollywood, FL was 8.20%.
The total population of the city of Hollywood, FL has grown 9.98% since 2010. As of 2018, the population was 154,823. The median household income of the Hollywood was $51,917, which is 13.89% lower than the national average.
- submarket area East Hollywood / Hallandale Submarket
- avg rent $1,936
- rent growth 55.63%
- vacancy 8.20%
- median income $51,917
- population (2018) 154,823
- population growth 9.98%
- vs. nat'l avg 13.89%
- zip codes 33019 33020 33021 33022 33023 33024 33025 33026 33027 33029 33081 33083 33084
