Rent, population, and median household income are important factors to consider for a 1031 exchange in Shoreline due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Shoreline, Washington is a part of the North Seattle/Northgate Submarket submarket area.
Shoreline Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Shoreline, WA submarket area was $1,810, which is 39.55% higher than 2014 average rent. This represents a compounded annual growth rate of 6.89%. 2019 vacancy in Shoreline, WA was 6.80%.
The total population of the city of Shoreline, WA has grown 7.07% since 2010. As of 2018, the population was 56,752. The median household income of the Shoreline was $80,489, which is 33.50% higher than the national average.
- submarket area North Seattle / Northgate Submarket
- avg rent $1,810
- rent growth 39.55%
- vacancy 6.80%
- median income $80,489
- population (2018) 56,752
- population growth 7.07%
- vs. nat'l avg 33.50%