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
