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%