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