Rent, population, and median household income are important factors to consider for a 1031 exchange in Cortlandt due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Cortlandt, New York is a part of the Northern Westchester Submarket submarket area.
Cortlandt Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Cortlandt, NY submarket area was $1,858, which is 31.96% higher than 2014 average rent. This represents a compounded annual growth rate of 5.70%. 2019 vacancy in Cortlandt, NY was 2.90%.
The total population of the city of Cortlandt, NY has grown 1.89% since 2010. As of 2018, the population was 42,380. The median household income of the Cortlandt was $110,885, which is 83.91% higher than the national average.
- submarket area Northern Westchester Submarket
- avg rent $1,858
- rent growth 31.96%
- vacancy 2.90%
- median income $110,885
- population (2018) 42,380
- population growth 1.89%
- vs. nat'l avg 83.91%