Rent, population, and median household income are important factors to consider for a 1031 exchange in Wilmington due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Wilmington, Massachusetts is a part of the North Shore Submarket submarket area, and contains zip code 1887.
Wilmington Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Wilmington, 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 Wilmington, MA was 3.20%.
The total population of the city of Wilmington, MA has grown 7.09% since 2010. As of 2018, the population was 23,907. The median household income of the Wilmington was $122,813, which is 103.69% higher than the national average.
- submarket area North Shore Submarket
- avg rent $2,062
- rent growth 23.99%
- vacancy 3.20%
- median income $122,813
- population (2018) 23,907
- population growth 7.09%
- vs. nat'l avg 103.69%
- zip code 1887