Rent, population, and median household income are important factors to consider for a 1031 exchange in Sandy due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Sandy, Utah is a part of the Midvale/Sandy Submarket submarket area, and contains 6 zip codes: 84092, 84070, 84090, 84093, 84091, and 84094.
Sandy Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Sandy, 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 Sandy, UT was 5.10%.
The total population of the city of Sandy, UT has grown 10.79% since 2010. As of 2018, the population was 96,901. The median household income of the Sandy was $91,836, which is 52.32% higher than the national average.
- submarket area Midvale / Sandy Submarket
- avg rent $1,215
- rent growth 31.21%
- vacancy 5.10%
- median income $91,836
- population (2018) 96,901
- population growth 10.79%
- vs. nat'l avg 52.32%
- zip codes 84070 84090 84091 84092 84093 84094