1031 Exchange Jersey City, New Jersey

 

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

Surrounding submarket Area

Jersey City, New Jersey is a part of the Hudson County Submarket submarket area, and contains 12 zip codes, including: 07310, 07311, 07304, 07302, 07308, and 07305.

Jersey City Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Jersey City, 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 Jersey City, NJ was 6.40%.

The total population of the city of Jersey City, NJ has grown 7.25% since 2010. As of 2018, the population was 265,549. The median household income of the Jersey City was $65,293, which is 8.29% higher than the national average.

  • submarket area Hudson County Submarket
  • avg rent $3,416
  • rent growth 19.61%
  • vacancy 6.40%
  • median income $65,293
  • population (2018) 265,549
  • population growth 7.25%
  • vs. nat'l avg 8.29%
  • zip codes 07097 07302 07303 07304 07305 07306 07307 07308 07310 07311 07395 07399

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