Rent, population, and median household income are important factors to consider for a 1031 exchange in Pelham due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Pelham, Alabama is a part of the North Birmingham submarket area, and contains zip code 35124.
Pelham Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Pelham, AL submarket area was $1,020, which is 17.65% higher than 2014 average rent. This represents a compounded annual growth rate of 3.30%. 2019 vacancy in Pelham, AL was 4.90%.
The total population of the city of Pelham, AL has grown 11.20% since 2010. As of 2018, the population was 23,744. The median household income of the Pelham was $76,107, which is 26.23% higher than the national average.
- submarket area North Birmingham
- avg rent $1,020
- rent growth 17.65%
- vacancy 4.90%
- median income $76,107
- population (2018) 23,744
- population growth 11.20%
- vs. nat'l avg 26.23%
- zip code 35124