1031 Exchange Laurel, Maryland

 

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

Surrounding submarket Area

Laurel, Maryland is a part of the Laurel Submarket submarket area, and contains 7 zip codes, including: 20726, 20724, 20708, 20723, 20707, and 20709.

Laurel Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Laurel, MD submarket area was $1,564, which is 14.83% higher than 2014 average rent. This represents a compounded annual growth rate of 2.80%. 2019 vacancy in Laurel, MD was 4.60%.

The total population of the city of Laurel, MD has grown 2.42% since 2010. As of 2018, the population was 25,723. The median household income of the Laurel was $75,268, which is 24.84% higher than the national average.

  • submarket area Laurel Submarket
  • avg rent $1,564
  • rent growth 14.83%
  • vacancy 4.60%
  • median income $75,268
  • population (2018) 25,723
  • population growth 2.42%
  • vs. nat'l avg 24.84%
  • zip codes 20707 20708 20709 20723 20724 20725 20726

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