Rent, population, and median household income are important factors to consider for a 1031 exchange in Orange Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Orange Park, Florida is a part of the Orange Park/Clay County Submarket submarket area, and contains 3 zip codes: 32067, 32065, and 32073.
Orange Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Orange Park, FL submarket area was $973, which is 27.69% lower than 2014 average rent. This represents a compounded annual growth rate of 5.01%. 2019 vacancy in Orange Park, FL was 3.70%.
The total population of the city of Orange Park, FL has grown 4.72% since 2010. As of 2018, the population was 8,809. The median household income of the Orange Park was $52,739, which is 12.53% lower than the national average.
- submarket area Orange Park / Clay County Submarket
- avg rent $973
- rent growth 27.69%
- vacancy 3.70%
- median income $52,739
- population (2018) 8,809
- population growth 4.72%
- vs. nat'l avg 12.53%
- zip codes 32065 32067 32073