1031 Exchange North Palm Beach, Florida

 

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

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