1031 Exchange Lynn, Massachusetts

 

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: 01904, 01905, 01903, 01910, 01902, and 01901.

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

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