1031 Exchange West Palm Beach, Florida

 

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

Surrounding submarket Area

West Palm Beach, Florida is a part of the West Palm Beach/Palm Beach Submarket submarket area, and contains 17 zip codes, including: 33422, 33401, 33412, 33411, 33407, and 33419.

West Palm Beach Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the West Palm Beach, FL submarket area was $1,542, which is 31.35% lower than 2014 average rent. This represents a compounded annual growth rate of 5.60%. 2019 vacancy in West Palm Beach, FL was 6.30%.

The total population of the city of West Palm Beach, FL has grown 11.49% since 2010. As of 2018, the population was 111,398. The median household income of the West Palm Beach was $51,635, which is 14.36% lower than the national average.

  • submarket area West Palm Beach / Palm Beach Submarket
  • avg rent $1,542
  • rent growth 31.35%
  • vacancy 6.30%
  • median income $51,635
  • population (2018) 111,398
  • population growth 11.49%
  • vs. nat'l avg 14.36%
  • zip codes 33401 33402 33403 33404 33405 33406 33407 33409 33411 33412 33413 33415 33416 33417 33419 33420 33422

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