Rent, population, and median household income are important factors to consider for a 1031 exchange in Royal Palm Beach due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Royal Palm Beach, Florida is a part of the Century Village Submarket submarket area, and contains zip code 33421.
Royal Palm Beach Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Royal Palm Beach, FL submarket area was $1,398, which is 30.53% higher than 2014 average rent. This represents a compounded annual growth rate of 5.47%. 2019 vacancy in Royal Palm Beach, FL was 7.10%.
The total population of the city of Royal Palm Beach, FL has grown 17.22% since 2010. As of 2018, the population was 40,018. The median household income of the Royal Palm Beach was $74,740, which is 23.96% higher than the national average.
- submarket area Century Village Submarket
- avg rent $1,398
- rent growth 30.53%
- vacancy 7.10%
- median income $74,740
- population (2018) 40,018
- population growth 17.22%
- vs. nat'l avg 23.96%
- zip code 33421
