1031 Exchange Oakland, New Jersey

 

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

Surrounding submarket Area

Oakland, New Jersey is a part of the Bergen County Submarket submarket area, and contains zip code 7436.

Oakland Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Oakland, NJ submarket area was $2,107, which is 20.19% higher than 2014 average rent. This represents a compounded annual growth rate of 3.75%. 2019 vacancy in Oakland, NJ was 4.00%.

The total population of the city of Oakland, NJ has grown 2.09% since 2010. As of 2018, the population was 13,021. The median household income of the Oakland was $117,996, which is 95.70% higher than the national average.

  • submarket area Bergen County Submarket
  • avg rent $2,107
  • rent growth 20.19%
  • vacancy 4.00%
  • median income $117,996
  • population (2018) 13,021
  • population growth 2.09%
  • vs. nat'l avg 95.70%
  • zip code 7436

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