Rent, population, and median household income are important factors to consider for a 1031 exchange in Beverly due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Beverly, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip code 1915.
Beverly Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Beverly, MA submarket area was $2,062, which is 23.99% higher than 2014 average rent. This represents a compounded annual growth rate of 4.39%. 2019 vacancy in Beverly, MA was 3.20%.
The total population of the city of Beverly, MA has grown 7.11% since 2010. As of 2018, the population was 42,312. The median household income of the Beverly was $79,483, which is 31.83% higher than the national average.
- submarket area North Shore Submarket
- avg rent $2,062
- rent growth 23.99%
- vacancy 3.20%
- median income $79,483
- population (2018) 42,312
- population growth 7.11%
- vs. nat'l avg 31.83%
- zip code 1915
