Rent, population, and median household income are important factors to consider for a 1031 exchange in Renton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Renton, Washington is a part of the Renton Submarket submarket area, and contains 5 zip codes: 98056, 98058, 98055, 98057, and 98059.
Renton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Renton, WA submarket area was $1,585, which is 47.99% higher than 2014 average rent. This represents a compounded annual growth rate of 8.16%. 2019 vacancy in Renton, WA was 4.50%.
The total population of the city of Renton, WA has grown 12.35% since 2010. As of 2018, the population was 102,153. The median household income of the Renton was $74,756, which is 23.99% higher than the national average.
- submarket area Renton Submarket
- avg rent $1,585
- rent growth 47.99%
- vacancy 4.50%
- median income $74,756
- population (2018) 102,153
- population growth 12.35%
- vs. nat'l avg 23.99%
- zip codes 98055 98056 98057 98058 98059