Rent, population, and median household income are important factors to consider for a 1031 exchange in Lawrence due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Lawrence, New Jersey is a part of the Trenton Submarket submarket area, and contains zip code 8648.
Lawrence Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lawrence, NJ submarket area was $1,141, which is 9.29% higher than 2014 average rent. This represents a compounded annual growth rate of 1.79%. 2019 vacancy in Lawrence, NJ was 2.40%.
The total population of the city of Lawrence, NJ has decreased 2.40% since 2010. As of 2018, the population was 32,668. The median household income of the Lawrence was $103,327, which is 71.37% higher than the national average.
- submarket area Trenton Submarket
- avg rent $1,141
- rent growth 9.29%
- vacancy 2.40%
- median income $103,327
- population (2018) 32,668
- population growth -2.40%
- vs. nat'l avg 71.37%
- zip code 8648