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