Rent, population, and median household income are important factors to consider for a 1031 exchange in Kenneth City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Kenneth City, Florida is a part of the Central St. Petersburg Submarket submarket area.
Kenneth City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Kenneth City, FL submarket area was $1,336, which is 64.33% lower than 2014 average rent. This represents a compounded annual growth rate of 10.44%. 2019 vacancy in Kenneth City, FL was 9.00%.
The total population of the city of Kenneth City, FL has grown 1.59% since 2010. As of 2018, the population was 5,059. The median household income of the Kenneth City was $47,616, which is 21.03% lower than the national average.
- submarket area Central St. Petersburg Submarket
- avg rent $1,336
- rent growth 64.33%
- vacancy 9.00%
- median income $47,616
- population (2018) 5,059
- population growth 1.59%
- vs. nat'l avg 21.03%