1031 Exchange North Andover, Massachusetts

 

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

Surrounding submarket Area

North Andover, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip code 1845.

North Andover Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the North Andover, 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 North Andover, MA was 3.20%.

The total population of the city of North Andover, MA has grown 10.38% since 2010. As of 2018, the population was 31,296. The median household income of the North Andover was $109,371, which is 81.40% higher than the national average.

  • submarket area North Shore Submarket
  • avg rent $2,062
  • rent growth 23.99%
  • vacancy 3.20%
  • median income $109,371
  • population (2018) 31,296
  • population growth 10.38%
  • vs. nat'l avg 81.40%
  • zip code 1845

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