Rent, population, and median household income are important factors to consider for a 1031 exchange in Salisbury due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Salisbury, Maryland is a part of the Salisbury, MD-DE metropolitan area area, and contains 4 zip codes: 21804, 21803, 21801, and 21802.
Salisbury Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Salisbury, MD metropolitan area area was $973, which is 5.42% lower than 2014 average rent. This represents a compounded annual growth rate of 1.06%. 2019 vacancy in Salisbury, MD was 1.90%.
The total population of the city of Salisbury, MD has grown 8.13% since 2010. As of 2018, the population was 32,809. The median household income of the Salisbury was $38,645, which is 35.90% lower than the national average.
- metropolitan area area Salisbury, MD-DE
- avg rent $973
- rent growth 5.42%
- vacancy 1.90%
- median income $38,645
- population (2018) 32,809
- population growth 8.13%
- vs. nat'l avg 35.90%
- zip codes 21801 21802 21803 21804