Rent, population, and median household income are important factors to consider for a 1031 exchange in North Caldwell due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
North Caldwell, New Jersey is a part of the West Essex County Submarket submarket area.
North Caldwell Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the North Caldwell, NJ submarket area was $2,025, which is 24.77% higher than 2014 average rent. This represents a compounded annual growth rate of 4.53%. 2019 vacancy in North Caldwell, NJ was 4.20%.
The total population of the city of North Caldwell, NJ has grown 7.04% since 2010. As of 2018, the population was 6,618. The median household income of the North Caldwell was $190,028, which is 215.17% higher than the national average.
- submarket area West Essex County Submarket
- avg rent $2,025
- rent growth 24.77%
- vacancy 4.20%
- median income $190,028
- population (2018) 6,618
- population growth 7.04%
- vs. nat'l avg 215.17%
