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1031 Exchange Richardson, Texas

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Richardson due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Richardson, Texas is a part of the Richardson submarket area, and contains 5 zip codes: 75083, 75080, 75084, 75081, and 75082.

Richardson Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Richardson, TX submarket area was $1,265, which is 34.29% higher than 2014 average rent. This represents a compounded annual growth rate of 6.07%. 2019 vacancy in Richardson, TX was 7.10%.

The total population of the city of Richardson, TX has grown 21.93% since 2010. As of 2018, the population was 80,953. The median household income of the Richardson was $120,981, which is 34.27% higher than the national average.

  • submarket area Richardson
  • avg rent $1,265
  • rent growth 34.29%
  • vacancy 7.10%
  • median income $120,981
  • population (2018) 80,953
  • population growth 21.93%
  • vs. nat'l avg 34.27%
  • zip codes 75080 75081 75082 75083 75084

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