Rent, population, and median household income are important factors to consider for a 1031 exchange in Barnegat due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Barnegat, New Jersey is a part of the Ocean County Submarket submarket area, and contains zip code 8005.
Barnegat Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Barnegat, NJ submarket area was $1,190, which is 7.21% higher than 2014 average rent. This represents a compounded annual growth rate of 1.40%. 2019 vacancy in Barnegat, NJ was 2.50%.
The total population of the city of Barnegat, NJ has grown 10.66% since 2010. As of 2018, the population was 23,167. The median household income of the Barnegat was $72,665, which is 20.52% higher than the national average.
- submarket area Ocean County Submarket
- avg rent $1,190
- rent growth 7.21%
- vacancy 2.50%
- median income $72,665
- population (2018) 23,167
- population growth 10.66%
- vs. nat'l avg 20.52%
- zip code 8005
