Rent, population, and median household income are important factors to consider for a 1031 exchange in New Brunswick due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
New Brunswick, New Jersey is a part of the Southwest Middlesex Submarket submarket area, and contains 5 zip codes: 08933, 08989, 08903, 08901, and 08906.
New Brunswick Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the New Brunswick, NJ submarket area was $1,570, which is 22.56% lower than 2014 average rent. This represents a compounded annual growth rate of 4.15%. 2019 vacancy in New Brunswick, NJ was 2.90%.
The total population of the city of New Brunswick, NJ has grown 1.67% since 2010. As of 2018, the population was 56,100. The median household income of the New Brunswick was $42,185, which is 30.03% lower than the national average.
- submarket area Southwest Middlesex Submarket
- avg rent $1,570
- rent growth 22.56%
- vacancy 2.90%
- median income $42,185
- population (2018) 56,100
- population growth 1.67%
- vs. nat'l avg 30.03%
- zip codes 08901 08903 08906 08933 08989
