1031 Exchange Miami Gardens, Florida

 

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

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