1031 Exchange Montville, New Jersey

 

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

Surrounding submarket Area

Montville, New Jersey is a part of the Morris County Submarket submarket area, and contains zip code 7045.

Montville Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Montville, NJ submarket area was $1,575, which is 16.32% higher than 2014 average rent. This represents a compounded annual growth rate of 3.07%. 2019 vacancy in Montville, NJ was 4.80%.

The total population of the city of Montville, NJ has decreased 0.92% since 2010. As of 2018, the population was 21,330. The median household income of the Montville was $143,523, which is 138.04% higher than the national average.

  • submarket area Morris County Submarket
  • avg rent $1,575
  • rent growth 16.32%
  • vacancy 4.80%
  • median income $143,523
  • population (2018) 21,330
  • population growth -0.92%
  • vs. nat'l avg 138.04%
  • zip code 7045

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