1031 Exchange Milford, Connecticut

 

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

Surrounding submarket Area

Milford, Connecticut is a part of the New Haven Harborside Submarket submarket area, and contains zip codes 06460 and 06461.

Milford Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Milford, CT submarket area was $1,371, which is 17.99% higher than 2014 average rent. This represents a compounded annual growth rate of 3.36%. 2019 vacancy in Milford, CT was 4.90%.

The total population of the city of Milford, CT has grown 3.61% since 2010. As of 2018, the population was 54,661. The median household income of the Milford was $89,778, which is 48.90% higher than the national average.

  • submarket area New Haven Harborside Submarket
  • avg rent $1,371
  • rent growth 17.99%
  • vacancy 4.90%
  • median income $89,778
  • population (2018) 54,661
  • population growth 3.61%
  • vs. nat'l avg 48.90%
  • zip codes 06460 06461

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