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1031 Exchange Pelham, Alabama

 

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

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