Rent, population, and median household income are important factors to consider for a 1031 exchange in Branchburg due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Branchburg, New Jersey is a part of the Somerset Submarket submarket area.
Branchburg Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Branchburg, 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 Branchburg, NJ was 2.70%.
The total population of the city of Branchburg, NJ has grown 0.75% since 2010. As of 2018, the population was 14,567. The median household income of the Branchburg was $132,483, which is 119.73% higher than the national average.
- submarket area Somerset Submarket
- avg rent $1,654
- rent growth 15.34%
- vacancy 2.70%
- median income $132,483
- population (2018) 14,567
- population growth 0.75%
- vs. nat'l avg 119.73%