Rent, population, and median household income are important factors to consider for a 1031 exchange in Gastonia due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Gastonia, North Carolina is a part of the Gaston County Submarket submarket area, and contains 5 zip codes: 28056, 28054, 28052, 28055, and 28053.
Gastonia Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Gastonia, NC submarket area was $915, which is 27.44% lower than 2014 average rent. This represents a compounded annual growth rate of 4.97%. 2019 vacancy in Gastonia, NC was 4.30%.
The total population of the city of Gastonia, NC has grown 7.36% since 2010. As of 2018, the population was 77,024. The median household income of the Gastonia was $46,301, which is 23.21% lower than the national average.
- submarket area Gaston County Submarket
- avg rent $915
- rent growth 27.44%
- vacancy 4.30%
- median income $46,301
- population (2018) 77,024
- population growth 7.36%
- vs. nat'l avg 23.21%
- zip codes 28052 28053 28054 28055 28056