Rent, population, and median household income are important factors to consider for a 1031 exchange in Miami Lakes due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Miami Lakes, Florida is a part of the Miami Lakes Submarket submarket area.
Miami Lakes Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Miami Lakes, FL submarket area was $1,337, which is 17.49% higher than 2014 average rent. This represents a compounded annual growth rate of 3.28%. 2019 vacancy in Miami Lakes, FL was 2.40%.
The total population of the city of Miami Lakes, FL has grown 7.72% since 2010. As of 2018, the population was 31,628. The median household income of the Miami Lakes was $73,527, which is 21.95% higher than the national average.
- submarket area Miami Lakes Submarket
- avg rent $1,337
- rent growth 17.49%
- vacancy 2.40%
- median income $73,527
- population (2018) 31,628
- population growth 7.72%
- vs. nat'l avg 21.95%
