1031 Exchange Springfield, Massachusetts

 

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

Surrounding metropolitan Area

Springfield, Massachusetts is a part of the Springfield, MA metropolitan area, and contains 19 zip codes, including: 01111, 01144, 01128, 01105, 01199, and 01109.

Springfield Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Springfield, MA metropolitan area was $1,069, which is 9.75% lower than 2014 average rent. This represents a compounded annual growth rate of 1.88%. 2019 vacancy in Springfield, MA was 2.10%.

The total population of the city of Springfield, MA has grown 1.29% since 2010. As of 2018, the population was 155,032. The median household income of the Springfield was $36,730, which is 39.08% lower than the national average.

  • metropolitan area Springfield, MA
  • avg rent $1,069
  • rent growth 9.75%
  • vacancy 2.10%
  • median income $36,730
  • population (2018) 155,032
  • population growth 1.29%
  • vs. nat'l avg 39.08%
  • zip codes 01101 01102 01103 01104 01105 01107 01108 01109 01111 01115 01118 01119 01128 01129 01138 01139 01144 01152 01199

Compare 1031 DST Properties
Side by Side

Simple & Easy to Understand

Side by Side Comparison of Investment Opportunities