Rent, population, and median household income are important factors to consider for a 1031 exchange in Burlington due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Burlington, Connecticut is a part of the North/West Hartford Submarket submarket area, and contains zip code 6013.
Burlington Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Burlington, 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 Burlington, CT was 4.90%.
The total population of the city of Burlington, CT has grown 3.91% since 2010. As of 2018, the population was 9,665. The median household income of the Burlington was $126,341, which is 109.55% higher than the national average.
- submarket area North / West Hartford Submarket
- avg rent $1,405
- rent growth 15.83%
- vacancy 4.90%
- median income $126,341
- population (2018) 9,665
- population growth 3.91%
- vs. nat'l avg 109.55%
- zip code 6013