Rent, population, and median household income are important factors to consider for a 1031 exchange in Gresham due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Gresham, Oregon is a part of the East Gresham Submarket submarket area, and contains zip codes 97030 and 97080.
Gresham Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Gresham, OR submarket area was $1,018, which is 29.02% lower than 2014 average rent. This represents a compounded annual growth rate of 5.23%. 2019 vacancy in Gresham, OR was 1.60%.
The total population of the city of Gresham, OR has grown 4.32% since 2010. As of 2018, the population was 110,158. The median household income of the Gresham was $52,303, which is 13.25% lower than the national average.
- submarket area East Gresham Submarket
- avg rent $1,018
- rent growth 29.02%
- vacancy 1.60%
- median income $52,303
- population (2018) 110,158
- population growth 4.32%
- vs. nat'l avg 13.25%
- zip codes 97030 97080