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1031 Exchange Medford, Massachusetts

 

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

Surrounding submarket Area

Medford, Massachusetts is a part of the Mystic River North/Route 128 Submarket submarket area, and contains zip codes 02153 and 02155.

Medford Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Medford, MA submarket area was $2,046, which is 22.88% higher than 2014 average rent. This represents a compounded annual growth rate of 4.21%. 2019 vacancy in Medford, MA was 6.80%.

The total population of the city of Medford, MA has grown 2.83% since 2010. As of 2018, the population was 57,765. The median household income of the Medford was $92,363, which is 53.19% higher 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 $92,363
  • population (2018) 57,765
  • population growth 2.83%
  • vs. nat'l avg 53.19%
  • zip codes 02153 02155

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