1031 Exchange Salem, Massachusetts

 

Surrounding submarket Area

Salem, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip codes 01970 and 01971.

Salem Demographics & Economic Trends

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

The total population of the city of Salem, MA has grown 5.37% since 2010. As of 2018, the population was 43,559. The median household income of the Salem was $65,565, which is 8.74% higher than the national average.

  • submarket area North Shore Submarket
  • avg rent $2,062
  • rent growth 23.99%
  • vacancy 3.20%
  • median income $65,565
  • population (2018) 43,559
  • population growth 5.37%
  • vs. nat'l avg 8.74%
  • zip codes 01970 01971

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