1031 Exchange Concord, North Carolina

 

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: 28026, 28027, and 28025.

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

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