Rent, population, and median household income are important factors to consider for a 1031 exchange in Farmers Branch due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Farmers Branch, Texas is a part of the Far Northwest/Farmers Branch submarket area.
Farmers Branch Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Farmers Branch, TX submarket area was $1,066, which is 36.84% higher than 2014 average rent. This represents a compounded annual growth rate of 6.47%. 2019 vacancy in Farmers Branch, TX was 7.90%.
The total population of the city of Farmers Branch, TX has grown 40.51% since 2010. As of 2018, the population was 71,032. The median household income of the Farmers Branch was $40,209, which is 17.81% higher than the national average.
- submarket area Far Northwest / Farmers Branch
- avg rent $1,066
- rent growth 36.84%
- vacancy 7.90%
- median income $40,209
- population (2018) 71,032
- population growth 40.51%
- vs. nat'l avg 17.81%