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1031 Exchange Long Branch, New Jersey

 

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

Surrounding submarket Area

Long Branch, New Jersey is a part of the Shore Submarket submarket area, and contains zip code 7740.

Long Branch Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Long Branch, NJ submarket area was $1,342, which is 12.40% lower than 2014 average rent. This represents a compounded annual growth rate of 2.36%. 2019 vacancy in Long Branch, NJ was 2.90%.

The total population of the city of Long Branch, NJ has decreased 1.03% since 2010. As of 2018, the population was 30,403. The median household income of the Long Branch was $58,232, which is 3.42% lower than the national average.

  • submarket area Shore Submarket
  • avg rent $1,342
  • rent growth 12.40%
  • vacancy 2.90%
  • median income $58,232
  • population (2018) 30,403
  • population growth -1.03%
  • vs. nat'l avg 3.42%
  • zip code 7740

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