Rent, population, and median household income are important factors to consider for a 1031 exchange in Dunellen due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Dunellen, New Jersey is a part of the Northwest Middlesex Submarket submarket area, and contains zip code 8812.
Dunellen Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Dunellen, NJ submarket area was $1,500, which is 13.46% higher than 2014 average rent. This represents a compounded annual growth rate of 2.56%. 2019 vacancy in Dunellen, NJ was 1.70%.
The total population of the city of Dunellen, NJ has grown 0.62% since 2010. As of 2018, the population was 7,272. The median household income of the Dunellen was $69,868, which is 15.88% higher than the national average.
- submarket area Northwest Middlesex Submarket
- avg rent $1,500
- rent growth 13.46%
- vacancy 1.70%
- median income $69,868
- population (2018) 7,272
- population growth 0.62%
- vs. nat'l avg 15.88%
- zip code 8812