Rent, population, and median household income are important factors to consider for a 1031 exchange in Grand Prairie due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Grand Prairie, Texas is a part of the Grand Prairie submarket area, and contains 5 zip codes: 75053, 75050, 75054, 75051, and 75052.
Grand Prairie Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Grand Prairie, TX submarket area was $1,154, which is 53.05% higher than 2014 average rent. This represents a compounded annual growth rate of 8.88%. 2019 vacancy in Grand Prairie, TX was 6.90%.
The total population of the city of Grand Prairie, TX has grown 10.96% since 2010. As of 2018, the population was 194,614. The median household income of the Grand Prairie was $65,249, which is 8.22% higher than the national average.
- submarket area Grand Prairie
- avg rent $1,154
- rent growth 53.05%
- vacancy 6.90%
- median income $65,249
- population (2018) 194,614
- population growth 10.96%
- vs. nat'l avg 8.22%
- zip codes 75050 75051 75052 75053 75054