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