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1031 Exchange Rockville, Maryland

 

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

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