Rent, population, and median household income are important factors to consider for a 1031 exchange in Hawthorne due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hawthorne, New Jersey is a part of the Passaic County Submarket submarket area, and contains zip codes 07506 and 07507.
Hawthorne Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hawthorne, 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 Hawthorne, NJ was 3.60%.
The total population of the city of Hawthorne, NJ has decreased 0.03% since 2010. As of 2018, the population was 18,786. The median household income of the Hawthorne was $96,250, which is 59.64% higher than the national average.
- submarket area Passaic County Submarket
- avg rent $1,503
- rent growth 12.16%
- vacancy 3.60%
- median income $96,250
- population (2018) 18,786
- population growth -0.03%
- vs. nat'l avg 59.64%
- zip codes 07506 07507