Rent, population, and median household income are important factors to consider for a 1031 exchange in Bloomfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Bloomfield, Connecticut is a part of the North/West Hartford Submarket submarket area, and contains zip code 6002.
Bloomfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Bloomfield, CT submarket area was $1,405, which is 15.83% higher than 2014 average rent. This represents a compounded annual growth rate of 2.98%. 2019 vacancy in Bloomfield, CT was 4.90%.
The total population of the city of Bloomfield, CT has grown 3.98% since 2010. As of 2018, the population was 21,301. The median household income of the Bloomfield was $76,952, which is 27.63% higher than the national average.
- submarket area North / West Hartford Submarket
- avg rent $1,405
- rent growth 15.83%
- vacancy 4.90%
- median income $76,952
- population (2018) 21,301
- population growth 3.98%
- vs. nat'l avg 27.63%
- zip code 6002