1031 Exchange Meriden, Connecticut

 

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

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