Rent, population, and median household income are important factors to consider for a 1031 exchange in Johnson City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Johnson City, Tennessee is a part of the Johnson City, TN metropolitan area, and contains 6 zip codes: 37602, 37601, 37615, 37604, 37605, and 37614.
Johnson City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Johnson City, TN metropolitan area was $798, which is 10.22% lower than 2014 average rent. This represents a compounded annual growth rate of 1.97%. 2019 vacancy in Johnson City, TN was 2.10%.
The total population of the city of Johnson City, TN has grown 5.74% since 2010. As of 2018, the population was 66,778. The median household income of the Johnson City was $40,786, which is 32.35% lower than the national average.
- metropolitan area Johnson City, TN
- avg rent $798
- rent growth 10.22%
- vacancy 2.10%
- median income $40,786
- population (2018) 66,778
- population growth 5.74%
- vs. nat'l avg 32.35%
- zip codes 37601 37602 37604 37605 37614 37615