Rent, population, and median household income are important factors to consider for a 1031 exchange in Neptune due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Neptune, New Jersey is a part of the Shore Submarket submarket area, and contains zip codes 07753 and 07754.
Neptune Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Neptune, NJ submarket area was $1,342, which is 12.40% higher than 2014 average rent. This represents a compounded annual growth rate of 2.36%. 2019 vacancy in Neptune, NJ was 2.90%.
The total population of the city of Neptune, NJ has decreased 1.22% since 2010. As of 2018, the population was 27,595. The median household income of the Neptune was $72,925, which is 20.95% higher than the national average.
- submarket area Shore Submarket
- avg rent $1,342
- rent growth 12.40%
- vacancy 2.90%
- median income $72,925
- population (2018) 27,595
- population growth -1.22%
- vs. nat'l avg 20.95%
- zip codes 07753 07754
