Rent, population, and median household income are important factors to consider for a 1031 exchange in Danvers due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Danvers, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip code 1923.
Danvers Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Danvers, 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 Danvers, MA was 3.20%.
The total population of the city of Danvers, MA has grown 4.66% since 2010. As of 2018, the population was 27,727. The median household income of the Danvers was $84,842, which is 40.72% higher than the national average.
- submarket area North Shore Submarket
- avg rent $2,062
- rent growth 23.99%
- vacancy 3.20%
- median income $84,842
- population (2018) 27,727
- population growth 4.66%
- vs. nat'l avg 40.72%
- zip code 1923