Rent, population, and median household income are important factors to consider for a 1031 exchange in Lake Worth due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lake Worth, Florida is a part of the Green Acres City/Palm Springs/Lake Worth Submarket submarket area, and contains 7 zip codes, including: 33463, 33467, 33466, 33462, 33465, and 33461.
Lake Worth Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lake Worth, FL submarket area was $1,319, which is 15.40% lower than 2014 average rent. This represents a compounded annual growth rate of 2.91%. 2019 vacancy in Lake Worth, FL was 5.70%.
The total population of the city of Lake Worth, FL has grown 9.62% since 2010. As of 2018, the population was 38,267. The median household income of the Lake Worth was $38,371, which is 36.36% lower than the national average.
- submarket area Green Acres City / Palm Springs / Lake Worth Submarket
- avg rent $1,319
- rent growth 15.40%
- vacancy 5.70%
- median income $38,371
- population (2018) 38,267
- population growth 9.62%
- vs. nat'l avg 36.36%
- zip codes 33449 33461 33462 33463 33465 33466 33467