1031 Exchange Freeport, New York

 

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

Surrounding submarket Area

Freeport, New York is a part of the Nassau County Submarket submarket area, and contains zip code 11520.

Freeport Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Freeport, NY submarket area was $2,406, which is 23.96% higher than 2014 average rent. This represents a compounded annual growth rate of 4.39%. 2019 vacancy in Freeport, NY was 4.40%.

The total population of the city of Freeport, NY has grown 0.43% since 2010. As of 2018, the population was 43,044. The median household income of the Freeport was $76,244, which is 26.46% higher than the national average.

  • submarket area Nassau County Submarket
  • avg rent $2,406
  • rent growth 23.96%
  • vacancy 4.40%
  • median income $76,244
  • population (2018) 43,044
  • population growth 0.43%
  • vs. nat'l avg 26.46%
  • zip code 11520

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