Rent, population, and median household income are important factors to consider for a 1031 exchange in Fairfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Fairfield, Connecticut is a part of the East Fairfield County Submarket submarket area, and contains 3 zip codes: 06824, 06828, and 06825.
Fairfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Fairfield, CT submarket area was $1,667, which is 19.58% higher than 2014 average rent. This represents a compounded annual growth rate of 3.64%. 2019 vacancy in Fairfield, CT was 4.40%.
The total population of the city of Fairfield, CT has grown 4.29% since 2010. As of 2018, the population was 61,952. The median household income of the Fairfield was $134,559, which is 123.18% higher than the national average.
- submarket area East Fairfield County Submarket
- avg rent $1,667
- rent growth 19.58%
- vacancy 4.40%
- median income $134,559
- population (2018) 61,952
- population growth 4.29%
- vs. nat'l avg 123.18%
- zip codes 06824 06825 06828