Rent, population, and median household income are important factors to consider for a 1031 exchange in Montville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Montville, Connecticut is a part of the New London Submarket submarket area, and contains zip code 6353.
Montville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Montville, CT submarket area was $1,245, which is 18.35% higher than 2014 average rent. This represents a compounded annual growth rate of 3.43%. 2019 vacancy in Montville, CT was 5.70%.
The total population of the city of Montville, CT has decreased 4.37% since 2010. As of 2018, the population was 18,716. The median household income of the Montville was $73,765, which is 22.34% higher than the national average.
- submarket area New London Submarket
- avg rent $1,245
- rent growth 18.35%
- vacancy 5.70%
- median income $73,765
- population (2018) 18,716
- population growth -4.37%
- vs. nat'l avg 22.34%
- zip code 6353