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1031 Exchange Newington, Connecticut

 

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

Surrounding submarket Area

Newington, Connecticut is a part of the South Hartford/North Middlesex Submarket submarket area, and contains zip codes 06111 and 06131.

Newington Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Newington, 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 Newington, CT was 4.20%.

The total population of the city of Newington, CT has decreased 1.47% since 2010. As of 2018, the population was 30,112. The median household income of the Newington was $80,310, which is 33.20% 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 $80,310
  • population (2018) 30,112
  • population growth -1.47%
  • vs. nat'l avg 33.20%
  • zip codes 06111 06131

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