1031 Exchange Newark, California

 

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

Surrounding submarket Area

Newark, California is a part of the Fremont/Newark/Union City Submarket submarket area, and contains zip code 94560.

Newark Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Newark, CA submarket area was $2,296, which is 19.65% higher than 2014 average rent. This represents a compounded annual growth rate of 3.65%. 2019 vacancy in Newark, CA was 2.50%.

The total population of the city of Newark, CA has grown 13.21% since 2010. As of 2018, the population was 48,198. The median household income of the Newark was $108,181, which is 79.43% higher than the national average.

  • submarket area Fremont / Newark / Union City Submarket
  • avg rent $2,296
  • rent growth 19.65%
  • vacancy 2.50%
  • median income $108,181
  • population (2018) 48,198
  • population growth 13.21%
  • vs. nat'l avg 79.43%
  • zip code 94560

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