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