Rent, population, and median household income are important factors to consider for a 1031 exchange in Roxbury due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Roxbury, New Jersey is a part of the Morris County Submarket submarket area.
Roxbury Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Roxbury, NJ submarket area was $1,575, which is 16.32% higher than 2014 average rent. This represents a compounded annual growth rate of 3.07%. 2019 vacancy in Roxbury, NJ was 4.80%.
The total population of the city of Roxbury, NJ has decreased 1.77% since 2010. As of 2018, the population was 22,912. The median household income of the Roxbury was $110,605, which is 83.45% higher than the national average.
- submarket area Morris County Submarket
- avg rent $1,575
- rent growth 16.32%
- vacancy 4.80%
- median income $110,605
- population (2018) 22,912
- population growth -1.77%
- vs. nat'l avg 83.45%