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1031 Exchange South Pasadena, Florida

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in South Pasadena due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

South Pasadena, Florida is a part of the Central St. Petersburg Submarket submarket area.

South Pasadena Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the South Pasadena, FL submarket area was $1,336, which is 64.33% lower than 2014 average rent. This represents a compounded annual growth rate of 10.44%. 2019 vacancy in South Pasadena, FL was 9.00%.

The total population of the city of South Pasadena, FL has grown 3.08% since 2010. As of 2018, the population was 5,117. The median household income of the South Pasadena was $35,609, which is 40.94% lower than the national average.

  • submarket area Central St. Petersburg Submarket
  • avg rent $1,336
  • rent growth 64.33%
  • vacancy 9.00%
  • median income $35,609
  • population (2018) 5,117
  • population growth 3.08%
  • vs. nat'l avg 40.94%

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