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