Rent, population, and median household income are important factors to consider for a 1031 exchange in Woburn due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Woburn, Massachusetts is a part of the Mystic River North/Route 128 Submarket submarket area, and contains 4 zip codes: 01815, 01888, 01801, and 01813.
Woburn Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Woburn, MA submarket area was $2,046, which is 22.88% higher than 2014 average rent. This represents a compounded annual growth rate of 4.21%. 2019 vacancy in Woburn, MA was 6.80%.
The total population of the city of Woburn, MA has grown 5.97% since 2010. As of 2018, the population was 40,397. The median household income of the Woburn was $88,745, which is 47.19% higher than the national average.
- submarket area Mystic River North / Route 128 Submarket
- avg rent $2,046
- rent growth 22.88%
- vacancy 6.80%
- median income $88,745
- population (2018) 40,397
- population growth 5.97%
- vs. nat'l avg 47.19%
- zip codes 01801 01813 01815 01888