Rent, population, and median household income are important factors to consider for a 1031 exchange in Glen Cove due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Glen Cove, New York is a part of the Nassau County Submarket submarket area, and contains zip code 11542.
Glen Cove Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Glen Cove, 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 Glen Cove, NY was 4.40%.
The total population of the city of Glen Cove, NY has grown 0.88% since 2010. As of 2018, the population was 27,201. The median household income of the Glen Cove was $78,066, which is 29.48% higher than the national average.
- submarket area Nassau County Submarket
- avg rent $2,406
- rent growth 23.96%
- vacancy 4.40%
- median income $78,066
- population (2018) 27,201
- population growth 0.88%
- vs. nat'l avg 29.48%
- zip code 11542