Rent, population, and median household income are important factors to consider for a 1031 exchange in Middletown due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Middletown, Connecticut is a part of the South Hartford/North Middlesex Submarket submarket area, and contains zip codes 06457 and 06459.
Middletown Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Middletown, CT submarket area was $1,295, which is 12.61% higher than 2014 average rent. This represents a compounded annual growth rate of 2.40%. 2019 vacancy in Middletown, CT was 4.20%.
The total population of the city of Middletown, CT has decreased 3.15% since 2010. As of 2018, the population was 46,146. The median household income of the Middletown was $67,651, which is 12.20% higher than the national average.
- submarket area South Hartford / North Middlesex Submarket
- avg rent $1,295
- rent growth 12.61%
- vacancy 4.20%
- median income $67,651
- population (2018) 46,146
- population growth -3.15%
- vs. nat'l avg 12.20%
- zip codes 06457 06459