1031 Exchange Sunny Isles, Florida

 

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

Surrounding submarket Area

Sunny Isles, Florida is a part of the North Miami Beach Submarket submarket area.

Sunny Isles Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Sunny Isles, FL submarket area was $1,920, which is 15.80% lower than 2014 average rent. This represents a compounded annual growth rate of 2.98%. 2019 vacancy in Sunny Isles, FL was 3.20%.

The total population of the city of Sunny Isles, FL has grown 7.02% since 2010. As of 2018, the population was 22,295. The median household income of the Sunny Isles was $55,209, which is 8.43% lower than the national average.

  • submarket area North Miami Beach Submarket
  • avg rent $1,920
  • rent growth 15.80%
  • vacancy 3.20%
  • median income $55,209
  • population (2018) 22,295
  • population growth 7.02%
  • vs. nat'l avg 8.43%

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