Rent, population, and median household income are important factors to consider for a 1031 exchange in Bedminster due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Bedminster, New Jersey is a part of the Somerset Submarket submarket area, and contains zip code 7921.
Bedminster Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Bedminster, NJ submarket area was $1,654, which is 15.34% higher than 2014 average rent. This represents a compounded annual growth rate of 2.90%. 2019 vacancy in Bedminster, NJ was 2.70%.
The total population of the city of Bedminster, NJ has decreased 1.20% since 2010. As of 2018, the population was 8,067. The median household income of the Bedminster was $120,278, which is 99.49% higher than the national average.
- submarket area Somerset Submarket
- avg rent $1,654
- rent growth 15.34%
- vacancy 2.70%
- median income $120,278
- population (2018) 8,067
- population growth -1.20%
- vs. nat'l avg 99.49%
- zip code 7921
