1031 Exchange Buffalo, New York

 

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

Surrounding metropolitan Area

Buffalo, New York is a part of the Buffalo-Cheektowaga, NY metropolitan area, and contains 44 zip codes, including: 14261, 14201, 14225, 14223, 14211, and 14269.

Buffalo Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Buffalo, NY metropolitan area was $904, which is 16.65% lower than 2014 average rent. This represents a compounded annual growth rate of 3.13%. 2019 vacancy in Buffalo, NY was 3.60%.

The total population of the city of Buffalo, NY has decreased 1.92% since 2010. As of 2018, the population was 256,304. The median household income of the Buffalo was $35,893, which is 40.47% lower than the national average.

  • metropolitan area Buffalo-Cheektowaga, NY
  • avg rent $904
  • rent growth 16.65%
  • vacancy 3.60%
  • median income $35,893
  • population (2018) 256,304
  • population growth -1.92%
  • vs. nat'l avg 40.47%
  • zip codes 14201 14202 14203 14204 14205 14206 14207 14208 14209 14210 14211 14212 14213 14214 14215 14216 14217 14218 14219 14220 14221 14222 14223 14224 14225 14226 14227 14228 14231 14233 14240 14241 14260 14261 14263 14264 14265 14267 14269 14270 14272 14273 14276 14280

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