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1031 Exchange Chapel Hill, North Carolina

 

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

Surrounding submarket Area

Chapel Hill, North Carolina is a part of the Chapel Hill Submarket submarket area, and contains 5 zip codes: 27517, 27599, 27516, 27514, and 27515.

Chapel Hill Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Chapel Hill, NC submarket area was $1,233, which is 24.92% higher than 2014 average rent. This represents a compounded annual growth rate of 4.55%. 2019 vacancy in Chapel Hill, NC was 3.70%.

The total population of the city of Chapel Hill, NC has grown 6.56% since 2010. As of 2018, the population was 60,988. The median household income of the Chapel Hill was $68,640, which is 13.84% higher than the national average.

  • submarket area Chapel Hill Submarket
  • avg rent $1,233
  • rent growth 24.92%
  • vacancy 3.70%
  • median income $68,640
  • population (2018) 60,988
  • population growth 6.56%
  • vs. nat'l avg 13.84%
  • zip codes 27514 27515 27516 27517 27599

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