1031 Exchange Neptune, New Jersey

 

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

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