Rent, population, and median household income are important factors to consider for a 1031 exchange in Clay due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Clay, New York is a part of the North/Airport Submarket submarket area, and contains zip code 13041.
Clay Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Clay, NY submarket area was $912, which is 14.72% higher than 2014 average rent. This represents a compounded annual growth rate of 2.78%. 2019 vacancy in Clay, NY was 4.80%.
The total population of the city of Clay, NY has grown 1.98% since 2010. As of 2018, the population was 59,360. The median household income of the Clay was $71,787, which is 19.06% higher than the national average.
- submarket area North / Airport Submarket
- avg rent $912
- rent growth 14.72%
- vacancy 4.80%
- median income $71,787
- population (2018) 59,360
- population growth 1.98%
- vs. nat'l avg 19.06%
- zip code 13041