Rent, population, and median household income are important factors to consider for a 1031 exchange in New Carrolton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
New Carrolton, Maryland is a part of the Landover Submarket submarket area.
New Carrolton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the New Carrolton, MD submarket area was $1,495, which is 24.38% higher than 2014 average rent. This represents a compounded annual growth rate of 4.46%. 2019 vacancy in New Carrolton, MD was 5.20%.
The total population of the city of New Carrolton, MD has grown 6.83% since 2010. As of 2018, the population was 12,964. The median household income of the New Carrolton was $65,164, which is 8.08% higher than the national average.
- submarket area Landover Submarket
- avg rent $1,495
- rent growth 24.38%
- vacancy 5.20%
- median income $65,164
- population (2018) 12,964
- population growth 6.83%
- vs. nat'l avg 8.08%
