Rent, population, and median household income are important factors to consider for a 1031 exchange in Lynn due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lynn, Massachusetts is a part of the Mystic River North/Route 128 Submarket submarket area, and contains 6 zip codes: 01902, 01903, 01901, 01905, 01910, and 01904.
Lynn Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lynn, MA submarket area was $2,046, which is 22.88% lower than 2014 average rent. This represents a compounded annual growth rate of 4.21%. 2019 vacancy in Lynn, MA was 6.80%.
The total population of the city of Lynn, MA has grown 4.79% since 2010. As of 2018, the population was 94,654. The median household income of the Lynn was $54,598, which is 9.45% lower than the national average.
- submarket area Mystic River North / Route 128 Submarket
- avg rent $2,046
- rent growth 22.88%
- vacancy 6.80%
- median income $54,598
- population (2018) 94,654
- population growth 4.79%
- vs. nat'l avg 9.45%
- zip codes 01901 01902 01903 01904 01905 01910
