Rent, population, and median household income are important factors to consider for a 1031 exchange in Burlington due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Burlington, North Carolina is a part of the Alamance County Submarket submarket area, and contains 3 zip codes: 27215, 27216, and 27217.
Burlington Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Burlington, NC submarket area was $921, which is 20.87% lower than 2014 average rent. This represents a compounded annual growth rate of 3.86%. 2019 vacancy in Burlington, NC was 8.00%.
The total population of the city of Burlington, NC has grown 7.58% since 2010. As of 2018, the population was 53,748. The median household income of the Burlington was $40,061, which is 33.56% lower than the national average.
- submarket area Alamance County Submarket
- avg rent $921
- rent growth 20.87%
- vacancy 8.00%
- median income $40,061
- population (2018) 53,748
- population growth 7.58%
- vs. nat'l avg 33.56%
- zip codes 27215 27216 27217