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
