Rent, population, and median household income are important factors to consider for a 1031 exchange in Riviera Beach due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Riviera Beach, Florida is a part of the North Palm Beach Submarket submarket area.
Riviera Beach Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Riviera Beach, FL submarket area was $1,608, which is 32.13% lower than 2014 average rent. This represents a compounded annual growth rate of 5.73%. 2019 vacancy in Riviera Beach, FL was 5.40%.
The total population of the city of Riviera Beach, FL has grown 7.22% since 2010. As of 2018, the population was 34,834. The median household income of the Riviera Beach was $44,871, which is 25.58% lower than the national average.
- submarket area North Palm Beach Submarket
- avg rent $1,608
- rent growth 32.13%
- vacancy 5.40%
- median income $44,871
- population (2018) 34,834
- population growth 7.22%
- vs. nat'l avg 25.58%