1031 Exchange Wilmington, Delaware

 

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

Surrounding metropolitan Area

Wilmington, Delaware is a part of the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan area, and contains 25 zip codes, including: 19802, 19805, 19807, 19801, 19808, and 19880.

Wilmington Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Wilmington, DE metropolitan area was $1,145, which is 15.19% lower than 2014 average rent. This represents a compounded annual growth rate of 2.87%. 2019 vacancy in Wilmington, DE was 4.20%.

The total population of the city of Wilmington, DE has decreased 0.30% since 2010. As of 2018, the population was 70,635. The median household income of the Wilmington was $42,854, which is 28.92% lower than the national average.

  • metropolitan area Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
  • avg rent $1,145
  • rent growth 15.19%
  • vacancy 4.20%
  • median income $42,854
  • population (2018) 70,635
  • population growth -0.30%
  • vs. nat'l avg 28.92%
  • zip codes 19801 19802 19803 19804 19805 19806 19807 19808 19809 19810 19850 19880 19884 19885 19886 19890 19891 19892 19893 19894 19895 19896 19897 19898 19899

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