1031 Exchange Totowa, New Jersey

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Totowa due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Totowa, New Jersey is a part of the Passaic County Submarket submarket area, and contains zip codes 07511 and 07512.

Totowa Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Totowa, NJ submarket area was $1,503, which is 12.16% higher than 2014 average rent. This represents a compounded annual growth rate of 2.32%. 2019 vacancy in Totowa, NJ was 3.60%.

The total population of the city of Totowa, NJ has grown 0.00% since 2010. As of 2018, the population was 10,804. The median household income of the Totowa was $101,321, which is 68.05% higher than the national average.

  • submarket area Passaic County Submarket
  • avg rent $1,503
  • rent growth 12.16%
  • vacancy 3.60%
  • median income $101,321
  • population (2018) 10,804
  • population growth 0.00%
  • vs. nat'l avg 68.05%
  • zip codes 07511 07512

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