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
