Rent, population, and median household income are important factors to consider for a 1031 exchange in Concord due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Concord, North Carolina is a part of the Concord/North Concord Submarket submarket area, and contains 3 zip codes: 28027, 28025, and 28026.
Concord Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Concord, NC submarket area was $966, which is 21.05% higher than 2014 average rent. This represents a compounded annual growth rate of 3.90%. 2019 vacancy in Concord, NC was 4.20%.
The total population of the city of Concord, NC has grown 19.05% since 2010. As of 2018, the population was 94,130. The median household income of the Concord was $63,707, which is 5.66% higher than the national average.
- submarket area Concord / North Concord Submarket
- avg rent $966
- rent growth 21.05%
- vacancy 4.20%
- median income $63,707
- population (2018) 94,130
- population growth 19.05%
- vs. nat'l avg 5.66%
- zip codes 28025 28026 28027
