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1031 Exchange Lowell, Massachusetts

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Lowell due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Lowell, Massachusetts is a part of the North Shore Submarket submarket area, and contains 5 zip codes: 01850, 01852, 01853, 01854, and 01851.

Lowell Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lowell, MA submarket area was $2,062, which is 23.99% lower than 2014 average rent. This represents a compounded annual growth rate of 4.39%. 2019 vacancy in Lowell, MA was 3.20%.

The total population of the city of Lowell, MA has grown 4.84% since 2010. As of 2018, the population was 111,670. The median household income of the Lowell was $51,987, which is 13.78% lower than the national average.

  • submarket area North Shore Submarket
  • avg rent $2,062
  • rent growth 23.99%
  • vacancy 3.20%
  • median income $51,987
  • population (2018) 111,670
  • population growth 4.84%
  • vs. nat'l avg 13.78%
  • zip codes 01850 01851 01852 01853 01854

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