1031 Exchange Manchester, Connecticut

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Manchester due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Manchester, Connecticut is a part of the East Hartford/Manchester Submarket submarket area, and contains 4 zip codes: 06040, 06045, 06041, and 06042.

Manchester Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Manchester, CT submarket area was $1,183, which is 11.29% higher than 2014 average rent. This represents a compounded annual growth rate of 2.16%. 2019 vacancy in Manchester, CT was 2.40%.

The total population of the city of Manchester, CT has decreased 0.93% since 2010. As of 2018, the population was 57,699. The median household income of the Manchester was $70,736, which is 17.32% higher than the national average.

  • submarket area East Hartford / Manchester Submarket
  • avg rent $1,183
  • rent growth 11.29%
  • vacancy 2.40%
  • median income $70,736
  • population (2018) 57,699
  • population growth -0.93%
  • vs. nat'l avg 17.32%
  • zip codes 06040 06041 06042 06045

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