Rent, population, and median household income are important factors to consider for a 1031 exchange in Piscataway due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Piscataway, New Jersey is a part of the Northwest Middlesex Submarket submarket area, and contains zip codes 08854 and 08855.
Piscataway Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Piscataway, NJ submarket area was $1,500, which is 13.46% higher than 2014 average rent. This represents a compounded annual growth rate of 2.56%. 2019 vacancy in Piscataway, NJ was 1.70%.
The total population of the city of Piscataway, NJ has grown 1.57% since 2010. As of 2018, the population was 56,923. The median household income of the Piscataway was $93,534, which is 55.13% higher than the national average.
- submarket area Northwest Middlesex Submarket
- avg rent $1,500
- rent growth 13.46%
- vacancy 1.70%
- median income $93,534
- population (2018) 56,923
- population growth 1.57%
- vs. nat'l avg 55.13%
- zip codes 08854 08855