1031 Exchange Clarence, New York

 

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

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