Rent, population, and median household income are important factors to consider for a 1031 exchange in Las Cruces due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Las Cruces, New Mexico is a part of the Las Cruces, NM metropolitan area area, and contains 9 zip codes, including: 88005, 88003, 88007, 88012, 88004, and 88011.
Las Cruces Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Las Cruces, NM metropolitan area area was $746, which is 7.96% lower than 2014 average rent. This represents a compounded annual growth rate of 1.54%. 2019 vacancy in Las Cruces, NM was 5.10%.
The total population of the city of Las Cruces, NM has grown 5.44% since 2010. As of 2018, the population was 102,926. The median household income of the Las Cruces was $40,551, which is 32.74% lower than the national average.
- metropolitan area area Las Cruces, NM
- avg rent $746
- rent growth 7.96%
- vacancy 5.10%
- median income $40,551
- population (2018) 102,926
- population growth 5.44%
- vs. nat'l avg 32.74%
- zip codes 88001 88003 88004 88005 88006 88007 88011 88012 88013