1031 Exchange Simsbury, Connecticut

 

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

Surrounding submarket Area

Simsbury, Connecticut is a part of the North/West Hartford Submarket submarket area, and contains zip code 6070.

Simsbury Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Simsbury, CT submarket area was $1,405, which is 15.83% higher than 2014 average rent. This represents a compounded annual growth rate of 2.98%. 2019 vacancy in Simsbury, CT was 4.90%.

The total population of the city of Simsbury, CT has grown 6.24% since 2010. As of 2018, the population was 24,979. The median household income of the Simsbury was $119,588, which is 98.34% higher than the national average.

  • submarket area North / West Hartford Submarket
  • avg rent $1,405
  • rent growth 15.83%
  • vacancy 4.90%
  • median income $119,588
  • population (2018) 24,979
  • population growth 6.24%
  • vs. nat'l avg 98.34%
  • zip code 6070

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