Rent, population, and median household income are important factors to consider for a 1031 exchange in McAllen due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
McAllen, Texas is a part of the McAllen-Edinburg-Mission, TX metropolitan area area, and contains 5 zip codes: 78505, 78503, 78504, 78502, and 78501.
McAllen Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the McAllen, TX metropolitan area area was $759, which is 7.51% lower than 2014 average rent. This represents a compounded annual growth rate of 1.46%. 2019 vacancy in McAllen, TX was 4.10%.
The total population of the city of McAllen, TX has grown 10.44% since 2010. As of 2018, the population was 47,279. The median household income of the McAllen was $143,433, which is 21.58% lower than the national average.
- metropolitan area area McAllen-Edinburg-Mission, TX
- avg rent $759
- rent growth 7.51%
- vacancy 4.10%
- median income $143,433
- population (2018) 47,279
- population growth 10.44%
- vs. nat'l avg 21.58%
- zip codes 78501 78502 78503 78504 78505
