Rent, population, and median household income are important factors to consider for a 1031 exchange in Miami Gardens due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Miami Gardens, Florida is a part of the North Dade Submarket submarket area, and contains zip code 33056.
Miami Gardens Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Miami Gardens, FL submarket area was $1,251, which is 25.48% lower than 2014 average rent. This represents a compounded annual growth rate of 4.64%. 2019 vacancy in Miami Gardens, FL was 7.50%.
The total population of the city of Miami Gardens, FL has grown 5.51% since 2010. As of 2018, the population was 113,069. The median household income of the Miami Gardens was $42,398, which is 29.68% lower than the national average.
- submarket area North Dade Submarket
- avg rent $1,251
- rent growth 25.48%
- vacancy 7.50%
- median income $42,398
- population (2018) 113,069
- population growth 5.51%
- vs. nat'l avg 29.68%
- zip code 33056