Rent, population, and median household income are important factors to consider for a 1031 exchange in Greenwich due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Greenwich, Connecticut is a part of the West Fairfield County Submarket submarket area, and contains 3 zip codes: 06831, 06836, and 06830.
Greenwich Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Greenwich, CT submarket area was $2,441, which is 9.31% higher than 2014 average rent. This represents a compounded annual growth rate of 1.80%. 2019 vacancy in Greenwich, CT was 7.40%.
The total population of the city of Greenwich, CT has grown 2.54% since 2010. As of 2018, the population was 62,727. The median household income of the Greenwich was $142,819, which is 136.87% higher than the national average.
- submarket area West Fairfield County Submarket
- avg rent $2,441
- rent growth 9.31%
- vacancy 7.40%
- median income $142,819
- population (2018) 62,727
- population growth 2.54%
- vs. nat'l avg 136.87%
- zip codes 06830 06831 06836