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1031 Exchange Wilmington, Massachusetts

 

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

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