Rent, population, and median household income are important factors to consider for a 1031 exchange in Oakland Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Oakland Park, Florida is a part of the Oakland Park Submarket submarket area.
Oakland Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Oakland Park, FL submarket area was $1,472, which is 41.13% lower than 2014 average rent. This represents a compounded annual growth rate of 7.13%. 2019 vacancy in Oakland Park, FL was 7.10%.
The total population of the city of Oakland Park, FL has grown 9.61% since 2010. As of 2018, the population was 45,339. The median household income of the Oakland Park was $50,380, which is 16.44% lower than the national average.
- submarket area Oakland Park Submarket
- avg rent $1,472
- rent growth 41.13%
- vacancy 7.10%
- median income $50,380
- population (2018) 45,339
- population growth 9.61%
- vs. nat'l avg 16.44%