Rent, population, and median household income are important factors to consider for a 1031 exchange in Atlantic City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Atlantic City, New Jersey is a part of the Atlantic City-Hammonton, NJ metropolitan area, and contains zip code 8204.
Atlantic City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Atlantic City, NJ metropolitan area was $1,100, which is 11.34% lower than 2014 average rent. This represents a compounded annual growth rate of 2.17%. 2019 vacancy in Atlantic City, NJ was 3.60%.
The total population of the city of Atlantic City, NJ has decreased 4.43% since 2010. As of 2018, the population was 37,804. The median household income of the Atlantic City was $27,786, which is 53.92% lower than the national average.
- metropolitan area Atlantic City-Hammonton, NJ
- avg rent $1,100
- rent growth 11.34%
- vacancy 3.60%
- median income $27,786
- population (2018) 37,804
- population growth -4.43%
- vs. nat'l avg 53.92%
- zip code 8204