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