Rent, population, and median household income are important factors to consider for a 1031 exchange in Meriden due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Meriden, Connecticut is a part of the North Haven/Wallingford/Meriden Submarket submarket area, and contains zip codes 06450 and 06451.
Meriden Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Meriden, CT submarket area was $1,463, which is 11.68% lower than 2014 average rent. This represents a compounded annual growth rate of 2.23%. 2019 vacancy in Meriden, CT was 6.90%.
The total population of the city of Meriden, CT has decreased 2.18% since 2010. As of 2018, the population was 59,540. The median household income of the Meriden was $57,886, which is 3.99% lower than the national average.
- submarket area North Haven / Wallingford / Meriden Submarket
- avg rent $1,463
- rent growth 11.68%
- vacancy 6.90%
- median income $57,886
- population (2018) 59,540
- population growth -2.18%
- vs. nat'l avg 3.99%
- zip codes 06450 06451
