Rent, population, and median household income are important factors to consider for a 1031 exchange in Greenbelt due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Greenbelt, Maryland is a part of the College Park/Greenbelt Submarket submarket area, and contains 3 zip codes: 20768, 20770, and 20771.
Greenbelt Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Greenbelt, 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 Greenbelt, MD was 2.60%.
The total population of the city of Greenbelt, MD has grown 0.92% since 2010. As of 2018, the population was 23,280. The median household income of the Greenbelt was $72,337, which is 19.98% higher than the national average.
- submarket area College Park / Greenbelt Submarket
- avg rent $1,657
- rent growth 16.20%
- vacancy 2.60%
- median income $72,337
- population (2018) 23,280
- population growth 0.92%
- vs. nat'l avg 19.98%
- zip codes 20768 20770 20771