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%
