Rent, population, and median household income are important factors to consider for a 1031 exchange in Kinnelon due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Kinnelon, New Jersey is a part of the Morris County Submarket submarket area.
Kinnelon Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Kinnelon, NJ submarket area was $1,575, which is 16.32% higher than 2014 average rent. This represents a compounded annual growth rate of 3.07%. 2019 vacancy in Kinnelon, NJ was 4.80%.
The total population of the city of Kinnelon, NJ has decreased 2.00% since 2010. As of 2018, the population was 10,043. The median household income of the Kinnelon was $156,048, which is 158.82% higher than the national average.
- submarket area Morris County Submarket
- avg rent $1,575
- rent growth 16.32%
- vacancy 4.80%
- median income $156,048
- population (2018) 10,043
- population growth -2.00%
- vs. nat'l avg 158.82%