Rent, population, and median household income are important factors to consider for a 1031 exchange in South Brunswick due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
South Brunswick, New Jersey is a part of the Southwest Middlesex Submarket submarket area.
South Brunswick Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the South Brunswick, NJ submarket area was $1,570, which is 22.56% higher than 2014 average rent. This represents a compounded annual growth rate of 4.15%. 2019 vacancy in South Brunswick, NJ was 2.90%.
The total population of the city of South Brunswick, NJ has grown 5.82% since 2010. As of 2018, the population was 45,942. The median household income of the South Brunswick was $117,274, which is 94.51% higher than the national average.
- submarket area Southwest Middlesex Submarket
- avg rent $1,570
- rent growth 22.56%
- vacancy 2.90%
- median income $117,274
- population (2018) 45,942
- population growth 5.82%
- vs. nat'l avg 94.51%