1031 Exchange Newburyport, Massachusetts

 

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

Surrounding submarket Area

Newburyport, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip code 1950.

Newburyport Demographics & Economic Trends

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

The total population of the city of Newburyport, MA has grown 4.51% since 2010. As of 2018, the population was 18,202. The median household income of the Newburyport was $103,220, which is 71.20% higher than the national average.

  • submarket area North Shore Submarket
  • avg rent $2,062
  • rent growth 23.99%
  • vacancy 3.20%
  • median income $103,220
  • population (2018) 18,202
  • population growth 4.51%
  • vs. nat'l avg 71.20%
  • zip code 1950

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