Rent, population, and median household income are important factors to consider for a 1031 exchange in Toms River due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Toms River, New Jersey is a part of the Ocean County Submarket submarket area, and contains 5 zip codes: 08753, 08755, 08756, 08754, and 08757.
Toms River Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Toms River, NJ submarket area was $1,190, which is 7.21% higher than 2014 average rent. This represents a compounded annual growth rate of 1.40%. 2019 vacancy in Toms River, NJ was 2.50%.
The total population of the city of Toms River, NJ has grown 2.72% since 2010. As of 2018, the population was 93,717. The median household income of the Toms River was $77,237, which is 28.10% higher than the national average.
- submarket area Ocean County Submarket
- avg rent $1,190
- rent growth 7.21%
- vacancy 2.50%
- median income $77,237
- population (2018) 93,717
- population growth 2.72%
- vs. nat'l avg 28.10%
- zip codes 08753 08754 08755 08756 08757