Rent, population, and median household income are important factors to consider for a 1031 exchange in Bel Air due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Bel Air, Maryland is a part of the Harford County Submarket submarket area, and contains zip codes 21014 and 21015.
Bel Air Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Bel Air, MD submarket area was $1,131, which is 19.18% higher than 2014 average rent. This represents a compounded annual growth rate of 3.57%. 2019 vacancy in Bel Air, MD was 4.40%.
The total population of the city of Bel Air, MD has decreased 0.75% since 2010. As of 2018, the population was 10,044. The median household income of the Bel Air was $71,082, which is 17.89% higher than the national average.
- submarket area Harford County Submarket
- avg rent $1,131
- rent growth 19.18%
- vacancy 4.40%
- median income $71,082
- population (2018) 10,044
- population growth -0.75%
- vs. nat'l avg 17.89%
- zip codes 21014 21015