Rent, population, and median household income are important factors to consider for a 1031 exchange in Boston due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Boston, New York is a part of the South Submarket submarket area, and contains zip code 14025.
Boston Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Boston, NY submarket area was $968, which is 25.71% higher than 2014 average rent. This represents a compounded annual growth rate of 4.68%. 2019 vacancy in Boston, NY was 3.30%.
The total population of the city of Boston, NY has grown 0.42% since 2010. As of 2018, the population was 8,057. The median household income of the Boston was $66,971, which is 11.08% higher than the national average.
- submarket area South Submarket
- avg rent $968
- rent growth 25.71%
- vacancy 3.30%
- median income $66,971
- population (2018) 8,057
- population growth 0.42%
- vs. nat'l avg 11.08%
- zip code 14025
