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: 27515, 27516, 27517, 27599, and 27514.
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
