Rent, population, and median household income are important factors to consider for a 1031 exchange in Margate due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Margate, Florida is a part of the Coral Springs/Margate/Coconut Creek Submarket submarket area, and contains zip code 33093.
Margate Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Margate, FL submarket area was $1,579, which is 20.72% lower than 2014 average rent. This represents a compounded annual growth rate of 3.84%. 2019 vacancy in Margate, FL was 3.40%.
The total population of the city of Margate, FL has grown 10.08% since 2010. As of 2018, the population was 58,656. The median household income of the Margate was $45,667, which is 24.26% lower than the national average.
- submarket area Coral Springs / Margate / Coconut Creek Submarket
- avg rent $1,579
- rent growth 20.72%
- vacancy 3.40%
- median income $45,667
- population (2018) 58,656
- population growth 10.08%
- vs. nat'l avg 24.26%
- zip code 33093