Rent, population, and median household income are important factors to consider for a 1031 exchange in Frederick due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Frederick, Maryland is a part of the Frederick County Submarket submarket area, and contains 6 zip codes: 21703, 21709, 21704, 21702, 21705, and 21701.
Frederick Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Frederick, MD submarket area was $1,356, which is 20.11% higher than 2014 average rent. This represents a compounded annual growth rate of 3.73%. 2019 vacancy in Frederick, MD was 4.50%.
The total population of the city of Frederick, MD has grown 10.59% since 2010. As of 2018, the population was 72,146. The median household income of the Frederick was $72,088, which is 19.56% higher than the national average.
- submarket area Frederick County Submarket
- avg rent $1,356
- rent growth 20.11%
- vacancy 4.50%
- median income $72,088
- population (2018) 72,146
- population growth 10.59%
- vs. nat'l avg 19.56%
- zip codes 21701 21702 21703 21704 21705 21709