Rent, population, and median household income are important factors to consider for a 1031 exchange in Palm Springs due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Palm Springs, Florida is a part of the Green Acres City/Palm Springs/Lake Worth Submarket submarket area.
Palm Springs Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Palm Springs, FL submarket area was $1,319, which is 15.40% lower than 2014 average rent. This represents a compounded annual growth rate of 2.91%. 2019 vacancy in Palm Springs, FL was 5.70%.
The total population of the city of Palm Springs, FL has grown 32.40% since 2010. As of 2018, the population was 25,061. The median household income of the Palm Springs was $41,011, which is 31.98% lower than the national average.
- submarket area Green Acres City / Palm Springs / Lake Worth Submarket
- avg rent $1,319
- rent growth 15.40%
- vacancy 5.70%
- median income $41,011
- population (2018) 25,061
- population growth 32.40%
- vs. nat'l avg 31.98%