Rent, population, and median household income are important factors to consider for a 1031 exchange in Takoma Park due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Takoma Park, Maryland is a part of the Takoma Park Submarket submarket area, and contains zip codes 20912 and 20913.
Takoma Park Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Takoma Park, MD submarket area was $1,448, which is 9.78% higher than 2014 average rent. This represents a compounded annual growth rate of 1.88%. 2019 vacancy in Takoma Park, MD was 1.50%.
The total population of the city of Takoma Park, MD has grown 6.30% since 2010. As of 2018, the population was 17,768. The median household income of the Takoma Park was $86,439, which is 43.36% higher than the national average.
- submarket area Takoma Park Submarket
- avg rent $1,448
- rent growth 9.78%
- vacancy 1.50%
- median income $86,439
- population (2018) 17,768
- population growth 6.30%
- vs. nat'l avg 43.36%
- zip codes 20912 20913