1031 Exchange Amherst, New York

 

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

Surrounding submarket Area

Amherst, New York is a part of the North Submarket submarket area.

Amherst Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Amherst, NY submarket area was $994, which is 11.43% higher than 2014 average rent. This represents a compounded annual growth rate of 2.19%. 2019 vacancy in Amherst, NY was 2.50%.

The total population of the city of Amherst, NY has grown 2.69% since 2010. As of 2018, the population was 125,659. The median household income of the Amherst was $73,935, which is 22.63% higher than the national average.

  • submarket area North Submarket
  • avg rent $994
  • rent growth 11.43%
  • vacancy 2.50%
  • median income $73,935
  • population (2018) 125,659
  • population growth 2.69%
  • vs. nat'l avg 22.63%

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