Rent, population, and median household income are important factors to consider for a 1031 exchange in Wellington due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Wellington, Florida is a part of the Green Acres City/Palm Springs/Lake Worth Submarket submarket area, and contains zip code 33414.
Wellington Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wellington, FL submarket area was $1,319, which is 15.40% higher than 2014 average rent. This represents a compounded annual growth rate of 2.91%. 2019 vacancy in Wellington, FL was 5.70%.
The total population of the city of Wellington, FL has grown 15.38% since 2010. As of 2018, the population was 65,200. The median household income of the Wellington was $91,088, which is 51.08% higher than the national average.
- submarket area Green Acres City / Palm Springs / Lake Worth Submarket
- avg rent $1,319
- rent growth 15.40%
- vacancy 5.70%
- median income $91,088
- population (2018) 65,200
- population growth 15.38%
- vs. nat'l avg 51.08%
- zip code 33414
