Rent, population, and median household income are important factors to consider for a 1031 exchange in Lake Charles due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Lake Charles, Louisiana is a part of the Lake Charles, LA metropolitan area, and contains 11 zip codes, including: 70602, 70612, 70607, 70601, 70606, and 70629.
Lake Charles Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lake Charles, LA metropolitan area was $828, which is 6.84% lower than 2014 average rent. This represents a compounded annual growth rate of 1.33%. 2019 vacancy in Lake Charles, LA was 6.00%.
The total population of the city of Lake Charles, LA has grown 8.35% since 2010. As of 2018, the population was 78,001. The median household income of the Lake Charles was $41,538, which is 31.11% lower than the national average.
- metropolitan area Lake Charles, LA
- avg rent $828
- rent growth 6.84%
- vacancy 6.00%
- median income $41,538
- population (2018) 78,001
- population growth 8.35%
- vs. nat'l avg 31.11%
- zip codes 70601 70602 70605 70606 70607 70609 70611 70612 70615 70616 70629
