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
