Rent, population, and median household income are important factors to consider for a 1031 exchange in Clifton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Clifton, New Jersey is a part of the Passaic County Submarket submarket area, and contains 5 zip codes: 07011, 07015, 07014, 07012, and 07013.
Clifton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Clifton, NJ submarket area was $1,503, which is 12.16% higher than 2014 average rent. This represents a compounded annual growth rate of 2.32%. 2019 vacancy in Clifton, NJ was 3.60%.
The total population of the city of Clifton, NJ has grown 1.35% since 2010. As of 2018, the population was 85,273. The median household income of the Clifton was $74,307, which is 23.24% higher than the national average.
- submarket area Passaic County Submarket
- avg rent $1,503
- rent growth 12.16%
- vacancy 3.60%
- median income $74,307
- population (2018) 85,273
- population growth 1.35%
- vs. nat'l avg 23.24%
- zip codes 07011 07012 07013 07014 07015
