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1031 Exchange Garden City, New York

 

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

Surrounding submarket Area

Garden City, New York is a part of the Nassau County Submarket submarket area, and contains 3 zip codes: 11530, 11531, and 11599.

Garden City Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Garden City, 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 Garden City, NY was 4.40%.

The total population of the city of Garden City, NY has grown 0.55% since 2010. As of 2018, the population was 22,495. The median household income of the Garden City was $171,750, which is 184.86% higher than the national average.

  • submarket area Nassau County Submarket
  • avg rent $2,406
  • rent growth 23.96%
  • vacancy 4.40%
  • median income $171,750
  • population (2018) 22,495
  • population growth 0.55%
  • vs. nat'l avg 184.86%
  • zip codes 11530 11531 11599

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