1031 Exchange Albany, New York

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Albany due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Albany, New York is a part of the Albany-Schenectady-Troy, NY metropolitan area, and contains 48 zip codes, including: 12229, 12243, 12214, 12201, 12227, and 12261.

Albany Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Albany, NY metropolitan area was $1,239, which is 21.59% lower than 2014 average rent. This represents a compounded annual growth rate of 3.99%. 2019 vacancy in Albany, NY was 4.30%.

The total population of the city of Albany, NY has decreased 0.59% since 2010. As of 2018, the population was 97,279. The median household income of the Albany was $45,500, which is 24.54% lower than the national average.

  • metropolitan area Albany-Schenectady-Troy, NY
  • avg rent $1,239
  • rent growth 21.59%
  • vacancy 4.30%
  • median income $45,500
  • population (2018) 97,279
  • population growth -0.59%
  • vs. nat'l avg 24.54%
  • zip codes 12201 12202 12203 12204 12205 12206 12207 12208 12209 12210 12211 12212 12214 12220 12222 12223 12224 12225 12226 12227 12228 12229 12230 12231 12232 12233 12234 12235 12236 12237 12238 12239 12240 12241 12242 12243 12244 12245 12246 12247 12248 12249 12250 12255 12257 12260 12261 12288

Compare 1031 DST Properties
Side by Side

Simple & Easy to Understand

Side by Side Comparison of Investment Opportunities