1031 Exchange Sunrise, Florida

 

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%

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