Rent, population, and median household income are important factors to consider for a 1031 exchange in Hoboken due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hoboken, New Jersey is a part of the Hudson County Submarket submarket area, and contains zip code 7030.
Hoboken Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hoboken, NJ submarket area was $3,416, which is 19.61% higher than 2014 average rent. This represents a compounded annual growth rate of 3.65%. 2019 vacancy in Hoboken, NJ was 6.40%.
The total population of the city of Hoboken, NJ has grown 6.90% since 2010. As of 2018, the population was 53,455. The median household income of the Hoboken was $136,402, which is 126.23% higher than the national average.
- submarket area Hudson County Submarket
- avg rent $3,416
- rent growth 19.61%
- vacancy 6.40%
- median income $136,402
- population (2018) 53,455
- population growth 6.90%
- vs. nat'l avg 126.23%
- zip code 7030