Rent, population, and median household income are important factors to consider for a 1031 exchange in Surfside due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Surfside, Florida is a part of the North Miami Beach Submarket submarket area.
Surfside Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Surfside, FL submarket area was $1,920, which is 15.80% higher than 2014 average rent. This represents a compounded annual growth rate of 2.98%. 2019 vacancy in Surfside, FL was 3.20%.
The total population of the city of Surfside, FL has grown 1.01% since 2010. As of 2018, the population was 5,802. The median household income of the Surfside was $86,088, which is 42.78% higher than the national average.
- submarket area North Miami Beach Submarket
- avg rent $1,920
- rent growth 15.80%
- vacancy 3.20%
- median income $86,088
- population (2018) 5,802
- population growth 1.01%
- vs. nat'l avg 42.78%
