Rent, population, and median household income are important factors to consider for a 1031 exchange in Sunrise due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Sunrise, Florida is a part of the Sunrise/Tamarac/North Lauderdale Submarket submarket area.
Sunrise Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Sunrise, FL submarket area was $1,371, which is 14.06% lower than 2014 average rent. This represents a compounded annual growth rate of 2.67%. 2019 vacancy in Sunrise, FL was 1.40%.
The total population of the city of Sunrise, FL has grown 13.05% since 2010. As of 2018, the population was 95,458. The median household income of the Sunrise was $55,043, which is 8.71% lower than the national average.
- submarket area Sunrise / Tamarac / North Lauderdale Submarket
- avg rent $1,371
- rent growth 14.06%
- vacancy 1.40%
- median income $55,043
- population (2018) 95,458
- population growth 13.05%
- vs. nat'l avg 8.71%
