Rent, population, and median household income are important factors to consider for a 1031 exchange in West Long Branch due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
West Long Branch, New Jersey is a part of the Shore Submarket submarket area, and contains zip code 7764.
West Long Branch Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the West Long Branch, NJ submarket area was $1,342, which is 12.40% higher than 2014 average rent. This represents a compounded annual growth rate of 2.36%. 2019 vacancy in West Long Branch, NJ was 2.90%.
The total population of the city of West Long Branch, NJ has decreased 2.32% since 2010. As of 2018, the population was 7,909. The median household income of the West Long Branch was $104,566, which is 73.43% higher than the national average.
- submarket area Shore Submarket
- avg rent $1,342
- rent growth 12.40%
- vacancy 2.90%
- median income $104,566
- population (2018) 7,909
- population growth -2.32%
- vs. nat'l avg 73.43%
- zip code 7764