1031 Exchange Homestead, Florida

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Homestead due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Homestead, Florida is a part of the South Dade/Homestead Submarket submarket area, and contains 9 zip codes, including: 33030, 33033, 33031, 33092, 33034, and 33032.

Homestead Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Homestead, FL submarket area was $1,126, which is 56.17% lower than 2014 average rent. This represents a compounded annual growth rate of 9.33%. 2019 vacancy in Homestead, FL was 5.70%.

The total population of the city of Homestead, FL has grown 16.47% since 2010. As of 2018, the population was 70,477. The median household income of the Homestead was $43,568, which is 27.74% lower than the national average.

  • submarket area South Dade / Homestead Submarket
  • avg rent $1,126
  • rent growth 56.17%
  • vacancy 5.70%
  • median income $43,568
  • population (2018) 70,477
  • population growth 16.47%
  • vs. nat'l avg 27.74%
  • zip codes 33030 33031 33032 33033 33034 33035 33039 33090 33092

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