1031 Exchange Bernardsville, New Jersey


Rent, population, and median household income are important factors to consider for a 1031 exchange in Bernardsville due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Bernardsville, New Jersey is a part of the Somerset Submarket submarket area, and contains zip code 7924.

Bernardsville Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Bernardsville, 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 Bernardsville, NJ was 2.70%.

The total population of the city of Bernardsville, NJ has decreased 0.27% since 2010. As of 2018, the population was 7,686. The median household income of the Bernardsville was $159,909, which is 165.22% higher than the national average.

  • submarket area Somerset Submarket
  • avg rent $1,654
  • rent growth 15.34%
  • vacancy 2.70%
  • median income $159,909
  • population (2018) 7,686
  • population growth -0.27%
  • vs. nat'l avg 165.22%
  • zip code 7924

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