1031 Exchange Matthews, North Carolina

 

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

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