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1031 Exchange Royal Palm Beach, Florida

 

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

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