Rent, population, and median household income are important factors to consider for a 1031 exchange in Gaithersburg due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Gaithersburg, Maryland is a part of the Gaithersburg/Germantown Submarket submarket area, and contains 9 zip codes, including: 20885, 20878, 20884, 20882, 20898, and 20877.
Gaithersburg Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Gaithersburg, MD submarket area was $1,590, which is 9.58% higher than 2014 average rent. This represents a compounded annual growth rate of 1.85%. 2019 vacancy in Gaithersburg, MD was 2.80%.
The total population of the city of Gaithersburg, MD has grown 13.94% since 2010. As of 2018, the population was 68,289. The median household income of the Gaithersburg was $86,427, which is 43.34% higher than the national average.
- submarket area Gaithersburg / Germantown Submarket
- avg rent $1,590
- rent growth 9.58%
- vacancy 2.80%
- median income $86,427
- population (2018) 68,289
- population growth 13.94%
- vs. nat'l avg 43.34%
- zip codes 20877 20878 20879 20882 20883 20884 20885 20898 20899
