Rent, population, and median household income are important factors to consider for a 1031 exchange in Old Bridge due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Old Bridge, New Jersey is a part of the East Middlesex Submarket submarket area, and contains zip code 8857.
Old Bridge Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Old Bridge, NJ submarket area was $1,455, which is 12.88% higher than 2014 average rent. This represents a compounded annual growth rate of 2.45%. 2019 vacancy in Old Bridge, NJ was 2.80%.
The total population of the city of Old Bridge, NJ has grown 0.80% since 2010. As of 2018, the population was 65,898. The median household income of the Old Bridge was $89,140, which is 47.84% higher than the national average.
- submarket area East Middlesex Submarket
- avg rent $1,455
- rent growth 12.88%
- vacancy 2.80%
- median income $89,140
- population (2018) 65,898
- population growth 0.80%
- vs. nat'l avg 47.84%
- zip code 8857