Rent, population, and median household income are important factors to consider for a 1031 exchange in Waterford due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Waterford, Connecticut is a part of the New London Submarket submarket area, and contains zip code 6835.
Waterford Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Waterford, CT submarket area was $1,245, which is 18.35% higher than 2014 average rent. This represents a compounded annual growth rate of 3.43%. 2019 vacancy in Waterford, CT was 5.70%.
The total population of the city of Waterford, CT has decreased 3.23% since 2010. As of 2018, the population was 18,887. The median household income of the Waterford was $85,438, which is 41.70% higher than the national average.
- submarket area New London Submarket
- avg rent $1,245
- rent growth 18.35%
- vacancy 5.70%
- median income $85,438
- population (2018) 18,887
- population growth -3.23%
- vs. nat'l avg 41.70%
- zip code 6835
