Rent, population, and median household income are important factors to consider for a 1031 exchange in Parkland due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Parkland, Florida is a part of the Coral Springs/Margate/Coconut Creek Submarket submarket area.
Parkland Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Parkland, FL submarket area was $1,579, which is 20.72% higher than 2014 average rent. This represents a compounded annual growth rate of 3.84%. 2019 vacancy in Parkland, FL was 3.40%.
The total population of the city of Parkland, FL has grown 40.35% since 2010. As of 2018, the population was 33,631. The median household income of the Parkland was $146,094, which is 142.31% higher than the national average.
- submarket area Coral Springs / Margate / Coconut Creek Submarket
- avg rent $1,579
- rent growth 20.72%
- vacancy 3.40%
- median income $146,094
- population (2018) 33,631
- population growth 40.35%
- vs. nat'l avg 142.31%