Rent, population, and median household income are important factors to consider for a 1031 exchange in North Palm Beach due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
North Palm Beach, Florida is a part of the North Palm Beach Submarket submarket area, and contains zip code 33408.
North Palm Beach Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the North Palm Beach, FL submarket area was $1,608, which is 32.13% higher than 2014 average rent. This represents a compounded annual growth rate of 5.73%. 2019 vacancy in North Palm Beach, FL was 5.40%.
The total population of the city of North Palm Beach, FL has grown 9.27% since 2010. As of 2018, the population was 13,129. The median household income of the North Palm Beach was $68,057, which is 12.88% higher than the national average.
- submarket area North Palm Beach Submarket
- avg rent $1,608
- rent growth 32.13%
- vacancy 5.40%
- median income $68,057
- population (2018) 13,129
- population growth 9.27%
- vs. nat'l avg 12.88%
- zip code 33408