Rent, population, and median household income are important factors to consider for a 1031 exchange in Draper due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Draper, Utah is a part of the Midvale/Sandy Submarket submarket area, and contains zip code 84020.
Draper Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Draper, UT submarket area was $1,215, which is 31.21% higher than 2014 average rent. This represents a compounded annual growth rate of 5.58%. 2019 vacancy in Draper, UT was 5.10%.
The total population of the city of Draper, UT has grown 14.30% since 2010. As of 2018, the population was 48,319. The median household income of the Draper was $115,618, which is 91.76% higher than the national average.
- submarket area Midvale / Sandy Submarket
- avg rent $1,215
- rent growth 31.21%
- vacancy 5.10%
- median income $115,618
- population (2018) 48,319
- population growth 14.30%
- vs. nat'l avg 91.76%
- zip code 84020
