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
