Rent, population, and median household income are important factors to consider for a 1031 exchange in Spotswood due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Spotswood, New Jersey is a part of the East Middlesex Submarket submarket area, and contains zip code 8884.
Spotswood Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Spotswood, NJ submarket area was $1,455, which is 12.88% higher than 2014 average rent. This represents a compounded annual growth rate of 2.45%. 2019 vacancy in Spotswood, NJ was 2.80%.
The total population of the city of Spotswood, NJ has grown 0.61% since 2010. As of 2018, the population was 8,307. The median household income of the Spotswood was $76,055, which is 26.14% higher than the national average.
- submarket area East Middlesex Submarket
- avg rent $1,455
- rent growth 12.88%
- vacancy 2.80%
- median income $76,055
- population (2018) 8,307
- population growth 0.61%
- vs. nat'l avg 26.14%
- zip code 8884