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1031 Exchange Upper Freehold, New Jersey

 

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

Surrounding submarket Area

Upper Freehold, New Jersey is a part of the West Monmouth Submarket submarket area.

Upper Freehold Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Upper Freehold, NJ submarket area was $1,389, which is 16.14% higher than 2014 average rent. This represents a compounded annual growth rate of 3.04%. 2019 vacancy in Upper Freehold, NJ was 4.30%.

The total population of the city of Upper Freehold, NJ has grown 1.70% since 2010. As of 2018, the population was 7,019. The median household income of the Upper Freehold was $136,705, which is 126.73% higher than the national average.

  • submarket area West Monmouth Submarket
  • avg rent $1,389
  • rent growth 16.14%
  • vacancy 4.30%
  • median income $136,705
  • population (2018) 7,019
  • population growth 1.70%
  • vs. nat'l avg 126.73%

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