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1031 Exchange Bellevue, Washington

 

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

Surrounding submarket Area

Bellevue, Washington is a part of the Bellevue/Issaquah Submarket submarket area, and contains 7 zip codes, including: 98006, 98009, 98007, 98015, 98004, and 98008.

Bellevue Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Bellevue, WA submarket area was $2,265, which is 45.10% higher than 2014 average rent. This represents a compounded annual growth rate of 7.73%. 2019 vacancy in Bellevue, WA was 5.20%.

The total population of the city of Bellevue, WA has grown 20.62% since 2010. As of 2018, the population was 147,599. The median household income of the Bellevue was $112,283, which is 86.23% higher than the national average.

  • submarket area Bellevue / Issaquah Submarket
  • avg rent $2,265
  • rent growth 45.10%
  • vacancy 5.20%
  • median income $112,283
  • population (2018) 147,599
  • population growth 20.62%
  • vs. nat'l avg 86.23%
  • zip codes 98004 98005 98006 98007 98008 98009 98015

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