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1031 Exchange Waterbury, Connecticut

 

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

Surrounding submarket Area

Waterbury, Connecticut is a part of the Naugatuck/Waterbury Submarket submarket area, and contains 16 zip codes, including: 06724, 06721, 06726, 06722, 06725, and 06703.

Waterbury Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Waterbury, CT submarket area was $1,061, which is 6.31% lower than 2014 average rent. This represents a compounded annual growth rate of 1.23%. 2019 vacancy in Waterbury, CT was 4.20%.

The total population of the city of Waterbury, CT has decreased 2.06% since 2010. As of 2018, the population was 108,093. The median household income of the Waterbury was $41,617, which is 30.98% lower than the national average.

  • submarket area Naugatuck / Waterbury Submarket
  • avg rent $1,061
  • rent growth 6.31%
  • vacancy 4.20%
  • median income $41,617
  • population (2018) 108,093
  • population growth -2.06%
  • vs. nat'l avg 30.98%
  • zip codes 06701 06702 06703 06704 06705 06706 06708 06710 06720 06721 06722 06723 06724 06725 06726 06749

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