Rent, population, and median household income are important factors to consider for a 1031 exchange in Rio Rancho due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Rio Rancho, New Mexico is a part of the Northwest Submarket submarket area, and contains 3 zip codes: 87144, 87174, and 87124.
Rio Rancho Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rio Rancho, NM submarket area was $985, which is 23.28% higher than 2014 average rent. This represents a compounded annual growth rate of 4.27%. 2019 vacancy in Rio Rancho, NM was 4.00%.
The total population of the city of Rio Rancho, NM has grown 12.00% since 2010. As of 2018, the population was 98,023. The median household income of the Rio Rancho was $63,014, which is 4.51% higher than the national average.
- submarket area Northwest Submarket
- avg rent $985
- rent growth 23.28%
- vacancy 4.00%
- median income $63,014
- population (2018) 98,023
- population growth 12.00%
- vs. nat'l avg 4.51%
- zip codes 87124 87144 87174