Rent, population, and median household income are important factors to consider for a 1031 exchange in Pembroke Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Pembroke Park, Florida is a part of the West Hollywood Submarket submarket area.
Pembroke Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Pembroke Park, FL submarket area was $1,306, which is 22.63% lower than 2014 average rent. This represents a compounded annual growth rate of 4.16%. 2019 vacancy in Pembroke Park, FL was 1.40%.
The total population of the city of Pembroke Park, FL has grown 10.29% since 2010. As of 2018, the population was 6,730. The median household income of the Pembroke Park was $35,236, which is 41.56% lower than the national average.
- submarket area West Hollywood Submarket
- avg rent $1,306
- rent growth 22.63%
- vacancy 1.40%
- median income $35,236
- population (2018) 6,730
- population growth 10.29%
- vs. nat'l avg 41.56%
