Rent, population, and median household income are important factors to consider for a 1031 exchange in Matthews due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Matthews, North Carolina is a part of the East Charlotte-Albemarle Corridor Submarket submarket area, and contains 3 zip codes: 28106, 28105, and 28104.
Matthews Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Matthews, NC submarket area was $883, which is 19.65% higher than 2014 average rent. This represents a compounded annual growth rate of 3.65%. 2019 vacancy in Matthews, NC was 3.60%.
The total population of the city of Matthews, NC has grown 19.99% since 2010. As of 2018, the population was 32,635. The median household income of the Matthews was $78,971, which is 30.98% higher than the national average.
- submarket area East Charlotte-Albemarle Corridor Submarket
- avg rent $883
- rent growth 19.65%
- vacancy 3.60%
- median income $78,971
- population (2018) 32,635
- population growth 19.99%
- vs. nat'l avg 30.98%
- zip codes 28104 28105 28106