Rent, population, and median household income are important factors to consider for a 1031 exchange in Hempstead due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Hempstead, New York is a part of the Nassau County Submarket submarket area, and contains 3 zip codes: 11549, 11550, and 11551.
Hempstead Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Hempstead, 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 Hempstead, NY was 4.40%.
The total population of the city of Hempstead, NY has grown 2.53% since 2010. As of 2018, the population was 55,255. The median household income of the Hempstead was $62,347, which is 3.41% higher than the national average.
- submarket area Nassau County Submarket
- avg rent $2,406
- rent growth 23.96%
- vacancy 4.40%
- median income $62,347
- population (2018) 55,255
- population growth 2.53%
- vs. nat'l avg 3.41%
- zip codes 11549 11550 11551