Rent, population, and median household income are important factors to consider for a 1031 exchange in Newton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Newton, Massachusetts is a part of the Brookline/Brighton/Newton Submarket submarket area, and contains zip code 2458.
Newton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Newton, MA submarket area was $2,416, which is 17.80% higher than 2014 average rent. This represents a compounded annual growth rate of 3.33%. 2019 vacancy in Newton, MA was 4.40%.
The total population of the city of Newton, MA has grown 4.41% since 2010. As of 2018, the population was 88,904. The median household income of the Newton was $139,696, which is 131.70% higher than the national average.
- submarket area Brookline / Brighton / Newton Submarket
- avg rent $2,416
- rent growth 17.80%
- vacancy 4.40%
- median income $139,696
- population (2018) 88,904
- population growth 4.41%
- vs. nat'l avg 131.70%
- zip code 2458