Rent, population, and median household income are important factors to consider for a 1031 exchange in Waltham due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Waltham, Massachusetts is a part of the Cambridge/Watertown Submarket submarket area, and contains 4 zip codes: 02454, 02451, 02453, and 02452.
Waltham Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Waltham, MA submarket area was $3,046, which is 22.38% higher than 2014 average rent. This represents a compounded annual growth rate of 4.12%. 2019 vacancy in Waltham, MA was 6.40%.
The total population of the city of Waltham, MA has grown 3.84% since 2010. As of 2018, the population was 62,962. The median household income of the Waltham was $85,677, which is 42.10% higher than the national average.
- submarket area Cambridge / Watertown Submarket
- avg rent $3,046
- rent growth 22.38%
- vacancy 6.40%
- median income $85,677
- population (2018) 62,962
- population growth 3.84%
- vs. nat'l avg 42.10%
- zip codes 02451 02452 02453 02454