Rent, population, and median household income are important factors to consider for a 1031 exchange in Greenburgh due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Greenburgh, New York is a part of the Central Westchester Submarket submarket area.
Greenburgh Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Greenburgh, NY submarket area was $2,791, which is 12.54% higher than 2014 average rent. This represents a compounded annual growth rate of 2.39%. 2019 vacancy in Greenburgh, NY was 5.50%.
The total population of the city of Greenburgh, NY has grown 3.32% since 2010. As of 2018, the population was 91,338. The median household income of the Greenburgh was $126,240, which is 109.38% higher than the national average.
- submarket area Central Westchester Submarket
- avg rent $2,791
- rent growth 12.54%
- vacancy 5.50%
- median income $126,240
- population (2018) 91,338
- population growth 3.32%
- vs. nat'l avg 109.38%