1031 Exchange Naugatuck, Connecticut

 

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

Surrounding submarket Area

Naugatuck, Connecticut is a part of the Naugatuck/Waterbury Submarket submarket area, and contains zip codes 06706 and 06770.

Naugatuck Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Naugatuck, CT submarket area was $1,061, which is 6.31% higher than 2014 average rent. This represents a compounded annual growth rate of 1.23%. 2019 vacancy in Naugatuck, CT was 4.20%.

The total population of the city of Naugatuck, CT has decreased 1.80% since 2010. As of 2018, the population was 31,288. The median household income of the Naugatuck was $70,512, which is 16.95% higher than the national average.

  • submarket area Naugatuck / Waterbury Submarket
  • avg rent $1,061
  • rent growth 6.31%
  • vacancy 4.20%
  • median income $70,512
  • population (2018) 31,288
  • population growth -1.80%
  • vs. nat'l avg 16.95%
  • zip codes 06706 06770

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