1031 Exchange Hazlet, New Jersey

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Hazlet due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Hazlet, New Jersey is a part of the West Monmouth Submarket submarket area, and contains zip code 7730.

Hazlet Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Hazlet, NJ submarket area was $1,389, which is 16.14% higher than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Hazlet, NJ was 4.30%.

The total population of the city of Hazlet, NJ has decreased 2.62% since 2010. As of 2018, the population was 19,802. The median household income of the Hazlet was $98,770, which is 63.82% higher than the national average.

  • submarket area West Monmouth Submarket
  • avg rent $1,389
  • rent growth 16.14%
  • vacancy 4.30%
  • median income $98,770
  • population (2018) 19,802
  • population growth -2.62%
  • vs. nat'l avg 63.82%
  • zip code 7730

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