Rent, population, and median household income are important factors to consider for a 1031 exchange in East Orange due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
East Orange, New Jersey is a part of the Newark/Orange/East Essex County Submarket submarket area, and contains 3 zip codes: 07019, 07018, and 07017.
East Orange Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the East Orange, NJ submarket area was $1,198, which is 23.76% lower than 2014 average rent. This represents a compounded annual growth rate of 4.36%. 2019 vacancy in East Orange, NJ was 4.50%.
The total population of the city of East Orange, NJ has grown 0.29% since 2010. As of 2018, the population was 64,457. The median household income of the East Orange was $44,809, which is 25.68% lower than the national average.
- submarket area Newark / Orange / East Essex County Submarket
- avg rent $1,198
- rent growth 23.76%
- vacancy 4.50%
- median income $44,809
- population (2018) 64,457
- population growth 0.29%
- vs. nat'l avg 25.68%
- zip codes 07017 07018 07019