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1031 Exchange College Park, Maryland

 

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

Surrounding submarket Area

College Park, Maryland is a part of the College Park/Greenbelt Submarket submarket area, and contains 3 zip codes: 20740, 20742, and 20741.

College Park Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the College Park, MD submarket area was $1,657, which is 16.20% higher than 2014 average rent. This represents a compounded annual growth rate of 3.05%. 2019 vacancy in College Park, MD was 2.60%.

The total population of the city of College Park, MD has grown 5.86% since 2010. As of 2018, the population was 32,196. The median household income of the College Park was $67,081, which is 11.26% higher than the national average.

  • submarket area College Park / Greenbelt Submarket
  • avg rent $1,657
  • rent growth 16.20%
  • vacancy 2.60%
  • median income $67,081
  • population (2018) 32,196
  • population growth 5.86%
  • vs. nat'l avg 11.26%
  • zip codes 20740 20741 20742

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