Rent, population, and median household income are important factors to consider for a 1031 exchange in Hamburg due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hamburg, New York is a part of the South Submarket submarket area, and contains zip code 14075.
Hamburg Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hamburg, NY submarket area was $968, which is 25.71% higher than 2014 average rent. This represents a compounded annual growth rate of 4.68%. 2019 vacancy in Hamburg, NY was 3.30%.
The total population of the city of Hamburg, NY has grown 2.97% since 2010. As of 2018, the population was 58,626. The median household income of the Hamburg was $66,648, which is 10.54% higher than the national average.
- submarket area South Submarket
- avg rent $968
- rent growth 25.71%
- vacancy 3.30%
- median income $66,648
- population (2018) 58,626
- population growth 2.97%
- vs. nat'l avg 10.54%
- zip code 14075