1031 Exchange Tewksbury, Massachusetts

 

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

Surrounding submarket Area

Tewksbury, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip code 1876.

Tewksbury Demographics & Economic Trends

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

The total population of the city of Tewksbury, MA has grown 8.38% since 2010. As of 2018, the population was 31,388. The median household income of the Tewksbury was $97,584, which is 61.85% higher than the national average.

  • submarket area North Shore Submarket
  • avg rent $2,062
  • rent growth 23.99%
  • vacancy 3.20%
  • median income $97,584
  • population (2018) 31,388
  • population growth 8.38%
  • vs. nat'l avg 61.85%
  • zip code 1876

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