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