1031 Exchange Peabody, Massachusetts

 

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

Surrounding submarket Area

Peabody, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip codes 01960 and 01961.

Peabody Demographics & Economic Trends

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

The total population of the city of Peabody, MA has grown 3.96% since 2010. As of 2018, the population was 53,278. The median household income of the Peabody was $68,387, which is 13.42% higher than the national average.

  • submarket area North Shore Submarket
  • avg rent $2,062
  • rent growth 23.99%
  • vacancy 3.20%
  • median income $68,387
  • population (2018) 53,278
  • population growth 3.96%
  • vs. nat'l avg 13.42%
  • zip codes 01960 01961

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