Rent, population, and median household income are important factors to consider for a 1031 exchange in Suffield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Suffield, Connecticut is a part of the North/West Hartford Submarket submarket area, and contains zip codes 06078 and 06080.
Suffield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Suffield, 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 Suffield, CT was 4.90%.
The total population of the city of Suffield, CT has grown 0.05% since 2010. As of 2018, the population was 15,743. The median household income of the Suffield was $111,573, which is 85.05% higher than the national average.
- submarket area North / West Hartford Submarket
- avg rent $1,405
- rent growth 15.83%
- vacancy 4.90%
- median income $111,573
- population (2018) 15,743
- population growth 0.05%
- vs. nat'l avg 85.05%
- zip codes 06078 06080