Rent, population, and median household income are important factors to consider for a 1031 exchange in Rockville due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Rockville, Maryland is a part of the Rockville Submarket submarket area, and contains 8 zip codes, including: 20857, 208051, 20848, 20853, 20849, and 20847.
Rockville Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rockville, MD submarket area was $2,083, which is 13.89% higher than 2014 average rent. This represents a compounded annual growth rate of 2.63%. 2019 vacancy in Rockville, MD was 3.70%.
The total population of the city of Rockville, MD has grown 11.53% since 2010. As of 2018, the population was 68,268. The median household income of the Rockville was $105,376, which is 74.77% higher than the national average.
- submarket area Rockville Submarket
- avg rent $2,083
- rent growth 13.89%
- vacancy 3.70%
- median income $105,376
- population (2018) 68,268
- population growth 11.53%
- vs. nat'l avg 74.77%
- zip codes 20847 20848 20849 20850 208051 20852 20853 20857
