Rent, population, and median household income are important factors to consider for a 1031 exchange in Brighton due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Brighton, New York is a part of the Brighton Submarket submarket area.
Brighton Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Brighton, NY submarket area was $1,144, which is 24.75% higher than 2014 average rent. This represents a compounded annual growth rate of 4.52%. 2019 vacancy in Brighton, NY was 3.10%.
The total population of the city of Brighton, NY has decreased 1.40% since 2010. As of 2018, the population was 36,098. The median household income of the Brighton was $75,812, which is 25.74% higher than the national average.
- submarket area Brighton Submarket
- avg rent $1,144
- rent growth 24.75%
- vacancy 3.10%
- median income $75,812
- population (2018) 36,098
- population growth -1.40%
- vs. nat'l avg 25.74%