Rent, population, and median household income are important factors to consider for a 1031 exchange in Cary due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Cary, North Carolina is a part of the Cary Submarket submarket area, and contains 5 zip codes: 27511, 27519, 27513, 27512, and 27518.
Cary Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Cary, NC submarket area was $1,185, which is 21.04% higher than 2014 average rent. This represents a compounded annual growth rate of 3.89%. 2019 vacancy in Cary, NC was 6.00%.
The total population of the city of Cary, NC has grown 24.35% since 2010. As of 2018, the population was 168,160. The median household income of the Cary was $101,079, which is 67.65% higher than the national average.
- submarket area Cary Submarket
- avg rent $1,185
- rent growth 21.04%
- vacancy 6.00%
- median income $101,079
- population (2018) 168,160
- population growth 24.35%
- vs. nat'l avg 67.65%
- zip codes 27511 27512 27513 27518 27519