Rent, population, and median household income are important factors to consider for a 1031 exchange in Clarence due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Clarence, New York is a part of the North Submarket submarket area, and contains zip code 14031.
Clarence Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Clarence, 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 Clarence, NY was 2.50%.
The total population of the city of Clarence, NY has grown 6.42% since 2010. As of 2018, the population was 32,641. The median household income of the Clarence was $99,630, which is 65.24% higher than the national average.
- submarket area North Submarket
- avg rent $994
- rent growth 11.43%
- vacancy 2.50%
- median income $99,630
- population (2018) 32,641
- population growth 6.42%
- vs. nat'l avg 65.24%
- zip code 14031