1031 Exchange Monroe Township, New Jersey

 

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

Surrounding submarket Area

Monroe Township, New Jersey is a part of the East Middlesex Submarket submarket area, and contains zip code 8831.

Monroe Township Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Monroe Township, NJ submarket area was $1,455, which is 12.88% higher than 2014 average rent. This represents a compounded annual growth rate of 2.45%. 2019 vacancy in Monroe Township, NJ was 2.80%.

The total population of the city of Monroe Township, NJ has grown 14.53% since 2010. As of 2018, the population was 44,818. The median household income of the Monroe Township was $83,091, which is 37.81% higher than the national average.

  • submarket area East Middlesex Submarket
  • avg rent $1,455
  • rent growth 12.88%
  • vacancy 2.80%
  • median income $83,091
  • population (2018) 44,818
  • population growth 14.53%
  • vs. nat'l avg 37.81%
  • zip code 8831

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