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