Rent, population, and median household income are important factors to consider for a 1031 exchange in Kearny due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Kearny, New Jersey is a part of the Hudson County Submarket submarket area, and contains zip codes 07032 and 07099.
Kearny Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Kearny, 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 Kearny, NJ was 6.40%.
The total population of the city of Kearny, NJ has grown 1.81% since 2010. As of 2018, the population was 41,422. The median household income of the Kearny was $67,348, which is 11.70% higher than the national average.
- submarket area Hudson County Submarket
- avg rent $3,416
- rent growth 19.61%
- vacancy 6.40%
- median income $67,348
- population (2018) 41,422
- population growth 1.81%
- vs. nat'l avg 11.70%
- zip codes 07032 07099