Rent, population, and median household income are important factors to consider for a 1031 exchange in Belmar due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Belmar, New Jersey is a part of the Shore Submarket submarket area, and contains zip codes 07715 and 07719.
Belmar Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Belmar, NJ submarket area was $1,342, which is 12.40% higher than 2014 average rent. This represents a compounded annual growth rate of 2.36%. 2019 vacancy in Belmar, NJ was 2.90%.
The total population of the city of Belmar, NJ has decreased 3.57% since 2010. As of 2018, the population was 5,587. The median household income of the Belmar was $79,706, which is 32.20% higher than the national average.
- submarket area Shore Submarket
- avg rent $1,342
- rent growth 12.40%
- vacancy 2.90%
- median income $79,706
- population (2018) 5,587
- population growth -3.57%
- vs. nat'l avg 32.20%
- zip codes 07715 07719