Rent, population, and median household income are important factors to consider for a 1031 exchange in Metuchen due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Metuchen, New Jersey is a part of the Northwest Middlesex Submarket submarket area, and contains zip code 8840.
Metuchen Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Metuchen, NJ submarket area was $1,500, which is 13.46% higher than 2014 average rent. This represents a compounded annual growth rate of 2.56%. 2019 vacancy in Metuchen, NJ was 1.70%.
The total population of the city of Metuchen, NJ has grown 10.37% since 2010. As of 2018, the population was 14,982. The median household income of the Metuchen was $124,317, which is 106.19% higher than the national average.
- submarket area Northwest Middlesex Submarket
- avg rent $1,500
- rent growth 13.46%
- vacancy 1.70%
- median income $124,317
- population (2018) 14,982
- population growth 10.37%
- vs. nat'l avg 106.19%
- zip code 8840
