1031 Exchange Passaic, New Jersey

 

Surrounding submarket Area

Passaic, New Jersey is a part of the Passaic County Submarket submarket area, and contains zip code 7055.

Passaic Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Passaic, NJ submarket area was $1,503, which is 12.16% lower than 2014 average rent. This represents a compounded annual growth rate of 2.32%. 2019 vacancy in Passaic, NJ was 3.60%.

The total population of the city of Passaic, NJ has grown 0.24% since 2010. As of 2018, the population was 69,948. The median household income of the Passaic was $36,226, which is 39.92% lower than the national average.

  • submarket area Passaic County Submarket
  • avg rent $1,503
  • rent growth 12.16%
  • vacancy 3.60%
  • median income $36,226
  • population (2018) 69,948
  • population growth 0.24%
  • vs. nat'l avg 39.92%
  • zip code 7055

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