Rent, population, and median household income are important factors to consider for a 1031 exchange in Rahway due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Rahway, New Jersey is a part of the Union County Submarket submarket area, and contains zip code 7065.
Rahway Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Rahway, NJ submarket area was $1,470, which is 13.69% higher than 2014 average rent. This represents a compounded annual growth rate of 2.60%. 2019 vacancy in Rahway, NJ was 4.50%.
The total population of the city of Rahway, NJ has grown 9.27% since 2010. As of 2018, the population was 29,880. The median household income of the Rahway was $74,164, which is 23.01% higher than the national average.
- submarket area Union County Submarket
- avg rent $1,470
- rent growth 13.69%
- vacancy 4.50%
- median income $74,164
- population (2018) 29,880
- population growth 9.27%
- vs. nat'l avg 23.01%
- zip code 7065