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1031 Exchange Readington, New Jersey

 

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

Surrounding submarket Area

Readington, New Jersey is a part of the Somerset Submarket submarket area, and contains zip code 8870.

Readington Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Readington, NJ submarket area was $1,654, which is 15.34% higher than 2014 average rent. This represents a compounded annual growth rate of 2.90%. 2019 vacancy in Readington, NJ was 2.70%.

The total population of the city of Readington, NJ has decreased 1.77% since 2010. As of 2018, the population was 15,840. The median household income of the Readington was $136,087, which is 125.71% higher than the national average.

  • submarket area Somerset Submarket
  • avg rent $1,654
  • rent growth 15.34%
  • vacancy 2.70%
  • median income $136,087
  • population (2018) 15,840
  • population growth -1.77%
  • vs. nat'l avg 125.71%
  • zip code 8870

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