Rent, population, and median household income are important factors to consider for a 1031 exchange in Wethersfield due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Wethersfield, Connecticut is a part of the South Hartford/North Middlesex Submarket submarket area, and contains zip codes 06109 and 06129.
Wethersfield Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wethersfield, CT submarket area was $1,295, which is 12.61% higher than 2014 average rent. This represents a compounded annual growth rate of 2.40%. 2019 vacancy in Wethersfield, CT was 4.20%.
The total population of the city of Wethersfield, CT has decreased 2.20% since 2010. As of 2018, the population was 26,082. The median household income of the Wethersfield was $83,391, which is 38.31% higher than the national average.
- submarket area South Hartford / North Middlesex Submarket
- avg rent $1,295
- rent growth 12.61%
- vacancy 4.20%
- median income $83,391
- population (2018) 26,082
- population growth -2.20%
- vs. nat'l avg 38.31%
- zip codes 06109 06129